Leading Personal Financial Management Web Application to Expand Reach, Functionality and Service Offerings MOUNTAIN VIEW, Calif., March 5 /PRNewswire/ -- Mint.com(http://www.mint.com), the fresh, easy and intelligent way for people tomanage and save money online, today announced that the company has raised$12 million in a Series B financing round led by Benchmark Capital. All ofthe investors participating in the company's Series A financing in April,2007 also invested in this round, including Shasta Ventures and First RoundCapital. Mint.com is the largest and fastest growing personal financialmanagement application on the web. Since launching its public beta inSeptember, 2007, Mint has signed more than 160,000 users, is now organizing$10 billion in transactions, and has identified more than $100 million inpotential savings. Mint has also significantly enhanced the product sinceits introduction, adding budgeting, a social spending comparison toolcalled "SpendSpace," and support for investment accounts such as brokerage,mutual fund, IRA and 529 plans. "In our first six months, we've demonstrated that our free, simple andpowerful money management web service can gain rapid acceptance and deliverreal value -- nearly half of our users tell us that they've already changedtheir financial behavior as a result of using Mint.com." said Aaron Patzer,CEO and Founder. "We're ready to further accelerate our growth and productdevelopment, and are delighted to find in Benchmark a partner which sharesour passion for improving the personal financial lives of Americans. Welook forward to tapping their deep expertise and experiences with majorbrands in their investment portfolio including: eBay (EBAY), AOL (AOL),E-Loan (EELN), Amazon (AMZN) and Prosper." With its investment in Mint.com, Benchmark Capital expands itsportfolio of Web 2.0 companies, including: Bebo; Ofoto (EK); Yelp; andZimbra. "Mint.com gives people visibility and control over their finances in aunique and powerful way," said Bob Kagle, General Partner of BenchmarkCapital. "We are excited about the company's ability to help people makebetter financial decisions and improve their lives." Mint.com is designed to make managing personal finances effortless --and it's free. It takes less than five minutes to get started; usersregister anonymously using only a valid email address, and then securelyconnect to their online bank, credit card and investment accounts. Mint.comthen does the rest; users never need to import or synch any data. Mint.comsecurely downloads transaction data from more than 5,000 financialinstitutions on a daily basis. It applies patent-pending technology andproprietary algorithms to compile and categorize transactions, providesusers with easy-to-maintain budgets, and allows users to compare theirspending to others, anonymously. Mint.com's advanced alerting system proactively lets users know aboutunusual or potentially suspicious activity, low balances, bank fees andcharges, and upcoming bills. Beyond showing users where their money goes,Mint.com also provides specific, individualized suggestions that can savethem real money. The average user sees $1,000 in savings ideas in theirfirst, five minute session. About Benchmark Capital Benchmark Capital was founded in 1995 to help talented entrepreneursbuild great technology companies. Benchmark's partners take ateam-oriented, labor-intensive approach to venture investing to deliver asuperior level of service to the firm's portfolio companies. Benchmark'sportfolio includes franchise companies such as eBay, Juniper Networks andRed Hat. Managing more than $3 billion in committed venture capital,Benchmark focuses on investing in entrepreneurs with original ideas. Formore information on Benchmark, visit its web site athttp://www.benchmark.com/. About Shasta Ventures (http://www.shastaventures.com) Shasta Ventures is a venture capital firm focused on helping buildtechnology enabled companies that offer unique products and services totheir customers. Shasta Ventures is located in Menlo Park, CA and managesover $200 million. Tod Francis, Managing Director, serves on Mint's Boardof Directors. Mr. Francis has over 20 years' experience with consumercompanies and has invested previously in many successful consumer internetbusinesses, including: Blue Nile, BabyCenter, WeddingChannel, LoopNet andLogoWorks. About First Round Capital (http://firstroundcapital.com) First Round Capital is a prominent investor in early stage companies,including: Aggregate Knowledge, Jingle Networks (1-800-FREE411), Krugle,Riya, StumbleUpon, and VideoEgg. First Round Capital has offices inPhiladelphia and San Francisco. Rob Hayes, Partner, serves on Mint's Boardof Directors and Josh Kopelman, Managing Partner, serves as Board Advisor. About Mint.com (http://www.mint.com) Mint.com is the fresh, easy and intelligent way for people to managetheir money online. And it's free. Designed to be effortless for the user,Mint.com takes less than five minutes to set up. Users register anonymouslyusing only a valid email address. Mint then does the rest, securelydownloading transaction data from more than 5,000 bank, credit card andinvestment accounts on a daily basis. Users never need to import or synchdata. Mint applies patent-pending technology and proprietary algorithms tocategorize transactions provide a unified view of all account activity;alert users to low balances, bank fees, upcoming bills, and evenpotentially suspicious account activity; and give users personalizedsuggestions for significant savings opportunities. Mint's management team includes experienced executives drawn from theranks of Charles Schwab & Co., eBay, Expedia, Intuit, PGP and other leadersin the finance, security and software spaces. Investors include top venturecapital firms and prominent individuals associated with companies includingBlue Nile, Google, Intuit, PassMark Security, PayPal, Yahoo! and others.
