About Monit
Monit is a Financial Services company based in Boston (United States) founded in 2019 by Sean Collins. Monit is focused on providing actionable financial insights for bankers and SMBs. It operates on a SaaS (Software-as-a-Service) and FinTech model. Monit has raised $9.54 million across 4 funding rounds from investors including 1982 Ventures, TTV Capital and Runway Venture Partners. Monit offers products and services including SMB Analytics Platform, Banker Intelligence Platform, Accounting Insights, and MoniCore Transaction Data Insights. Its focus areas include Technology, Financial Technology and Banking Solutions. Its legal entity is Signal Financial Technologies, Inc. Its competitors include Anaplan, Coviance and FI Navigator; 3 of its 3 listed competitors have raised funding.
Company details
Monit is engaged in delivering innovative financial technology solutions for bankers and small to medium-sized businesses (SMBs). The company operates within the fintech sector, offering platforms like SMB Analytics and Banker Intelligence to enhance client relationships and drive revenue growth. Solutions provided by Monit include transaction data insights through MoniCore and accounting analytics, enabling banks to identify hidden revenue opportunities and strengthen SMB engagement. The platforms are designed to surface competitor impacts, provide timely financial advice, and transform data into growth opportunities for banking institutions.
- Headquarters Boston, United States
- Founders Sean Collins
- SectorsFinancial Services
- Phone•••• ••••
- Website monitapp.io
- Social LinkedIn X
- Legal Name Signal Financial Technologies, Inc.
- Total Equity Funding$9.54M (USD)
in 4 rounds
- Latest Funding Round$3.59M (USD), Series B
Mar 2024
- Investors1982 Ventures
& 5 more
Products & Services of Monit
Monit offers a comprehensive portfolio of products and services, including SMB Analytics Platform, Banker Intelligence Platform, Accounting Insights, and MoniCore Transaction Data Insights.
Platform providing analytics for small business financial insights.
Tool offering bankers insights for client relationship growth.
Service delivering accounting data analysis for business decisions.
Solution analyzing transaction data for revenue opportunity identification.
Funding Insights of Monit
Monit has successfully raised a total of $9.54M across 4 strategic funding rounds. The most recent funding activity was a Series B round of $3.59 million completed in March 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $9.54M
- Total Rounds 4
- Last Round Series B — $3.59M
- First Round $750,000
(Apr 2020)
- Investors Count 6
All 4 funding rounds of Monit with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar 2024 | $3.59M | Series B | – | – | – |
| Feb 2022 | Series A | – | 1982 Ventures | – | |
| Apr 2021 | $5.2M | Series A | – | TTV Capital | |
| Apr 2020 | $750,000 | Seed | – | – | – |
6 investors in total: 4 institutional and 2 angel.
Investors in Monit
Monit has secured backing from 6 investors, including venture fund and angel investors. Prominent investors backing the company include 1982 Ventures, TTV Capital and Runway Venture Partners.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage fintech investments are focused on in Southeast Asia. | 1982.vc | Singapore, Singapore | ||
Investments are made by TTV Capital in early-stage fintech companies. | ttvcapital.com | Atlanta, United States | ||
Early-stage seed investments are made in SaaS and software businesses. | runwayvp.com | New York, United States | ||
Venture capital firm focused on aerospace, biopharma, consumer, and multiple sectors | correlationvc.com | San Francisco, United States | ||
WR William Ruh | unknown_cbbc838bf9314c97a | |||
JP Joe Proto | Indian angel investor, active in startup ecosystem, focusing on early-stage ventures. | unknown_ea218f7603b743cba |
Investor details for Monit
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People of Monit
15 people are tracked at Monit (6 in leadership, 9 in team).
| Name | Role | Group |
|---|---|---|
Sean Collins | Co-Founder | Leadership |
Rian Stockbower | CTO | Leadership |
Max Koenig | Head of Business Development | Leadership |
Steve Dow | Co-founder & CEO | Leadership |
Ryan Johnson | Chief Customer Officer | Leadership |
Konstantin Novakivsky | Head of Product & Modeling | Leadership |
Caleb Piekstra | Principal Software Engineer | Team |
Rori Stumpf | Staff Engineer | Team |
Nathan Cullivan | Data Modeller | Team |
Dave Batista | CX & Creative Advisor | Team |
Lauren Ogden | Software Engineer | Team |
Jessica Mahoney | UX Designer | Team |
Rusty Hall | Product Manager | Team |
Russell Hall | Product Manager | Team |
Devin Quirk | Senior Software Engineer | Team |
Complete people profiles for Monit
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Timeline of Monit
3 dated milestones of Monit across 5 years, from founding to its latest funding, stage changes and deals.
- Founded Monit is founded.
- Funding First funding round of $750K.
- Funding Latest funding round, Series B, of $3.6M.
Competitors of Monit
Monit has 3 listed competitors in our database, 3 of them funded. They include Anaplan, Coviance and FI Navigator.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| anaplan.com | 2006 | San Francisco, United States | $300M | 834 | Operational planning and forecasting solutions are offered to businesses. | |
| coviance.com | 2009 | West Des Moines, United States | $13.32M | 68 | Home equity lending automation technology is provided for streamlined workflows. | |
| fi-navigator.com | 2014 | Atlanta, United States | $6.5M | Bank data and analytics platform for the banking Industry |
Detailed competitors of Monit
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Web traffic of Monit
The website of Monit (monitapp.io) receives about 3.3K visits a month.
- Monthly visits3.3K
▲ 6.1% vs previous month
Top companies in Banking & FinTech Platforms
3 companies that operate in the same segment as Monit (Banking & FinTech Platforms) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Online business banking and financial workflow tools are provided. | 2010 | San Francisco, California, United States | USD 546 M | USD 2.71 M | 1,807 | |
Digital banking services are offered to individuals via mobile apps. | 2012 | San Francisco, California, United States | USD 3.15 B | USD 1.96 B | 2,516 | |
Digital sustainable banking services are offered to consumers. | 2013 | Los Angeles, California, United States | USD 865 M | 237 |
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Related news about Monit
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Frequently Asked Questions about Monit
Monit was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Monit is headquartered in Boston, United States. It is registered at Boston, Massachusetts, United States.
Monit is a funded company, having raised a total of $9.54M across 4 funding rounds to date. The company's 1st funding round was a Seed of $750K, raised on Apr 2020.
Monit is engaged in delivering innovative financial technology solutions for bankers and small to medium-sized businesses (SMBs). The company operates within the fintech sector, offering platforms like SMB Analytics and Banker Intelligence to enhance client relationships and drive revenue growth. Solutions provided by Monit include transaction data insights through MoniCore and accounting analytics, enabling banks to identify hidden revenue opportunities and strengthen SMB engagement. The platforms are designed to surface competitor impacts, provide timely financial advice, and transform data into growth opportunities for banking institutions.
Monit's top competitors include Anaplan, Coviance and FI Navigator.
Monit offers SMB Analytics Platform, Banker Intelligence Platform, Accounting Insights, and MoniCore Transaction Data Insights.
Monit has 6 investors. Key investors include 1982 Ventures, TTV Capital, Runway Venture Partners, Correlation Ventures, and William Ruh.
Monit operates through Signal Financial Technologies, Inc..