Last October, finance-tracking startup 60mo sent a tweet to Lightbank that read: “Hey @lightbank, we should chat sometime. Mid-westerners gotta stick together, yo.“
Three months later, Lightbank has its response: “fo sho”.
Today, 60mo is announcing that it’s closed a Series A funding round led by Lightbank. Exact details of the deal aren’t being disclosed, but we’re told it’s “in the range of a million dollars”. And yes, that tweet was actually the first time the two organizations communicated with each other.
60mo, which we’ve covered before, is an online service that helps businesses manage their finances by importing data from QuickBooks, FreshBooks, and a variety of financial institutions like Bank of America, Chase, and American Express. Once the data is in the system, you can use 60mo to create financial projections, manage your business’s budget and share the data with your accountant or investors — it’s sort of like a Mint for businesses.
Since we last wrote about them, 60mo has launched a new design, and they’ve also adjusted their pricing. The service initially started at $19 a month — that’s now jumped to $29 a month, but 60mo has introduced a new free option, albeit with limited functionality (you can only connect with one bank account or credit card). There’s also a new 30 day trial available.
Lightbank is an investment firm founded by Eric Lefkofsky and Brad Keywell — both of whom also cofounded Groupon, among other companies.
Another competitor in this space is inDinero.
60mo is a simple and flexible tool for forecasting your business’s finances, managing HR, organizing corporate finance and shareholder data, and analyzing where your income and expenses are coming from.
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