What is Steady?
SteadyIQ provides an innovative Income Passport for income verification, specifically designed for public benefits. Their platform is trusted by government agencies to deliver accurate benefit eligibility data, streamlining the verification process for both applicants and agencies. With features like real-time data access and user-permissioned controls, SteadyIQ enhances the efficiency and integrity of public benefit programs. The company aims to improve decision-making speed and reduce administrative burdens, ultimately maximizing coverage for working Americans. This focus on critical infrastructure for social services positions Steady as a key player in the fintech and government technology sectors.
How much funding has Steady raised?
Steady has raised a total of $24M across 2 funding rounds:
Series A
$9M
Series B
$15M
Series A (2018): $9M with participation from Clocktower Group, Omidyar Network, Propel Venture Partners, and 25 Madison
Series B (2020): $15M led by CMFG Ventures, Loeb Enterprises, Recruit Strategic Partners, Flourish Ventures, and Propel Venture Partners
Key Investors in Steady
CMFG Ventures
TruStage Ventures (CMFG Ventures) is the venture capital arm of TruStage, dedicated to accelerating fintech growth by funding innovators in the financial services sector, aiming to enhance financial security and bring financial technology innovations to the credit union industry.
Recruit Strategic Partners
Recruit Strategic Partners is a Silicon Valley-based venture capital firm, a subsidiary of Recruit in Japan, investing in innovative companies across the U.S. and offering industry knowledge to entrepreneurs as part of Recruit's global investment business.
Omidyar Network
Omidyar Network is a philanthropy focused on shaping the digital revolution to promote shared power, prosperity, and possibility, engaging with innovators to influence culture, governance, business, and technology for a more equitable digital future.
What's next for Steady?
The substantial enterprise-level funding and recent strategic investment indicate a strong growth trajectory for Steady. This capital infusion is expected to fuel further platform development, expand market reach within government agencies, and enhance data security protocols. Steady's commitment to improving the speed and accuracy of benefit eligibility determination suggests a strategic focus on scaling its operations to meet the increasing demand for efficient public service solutions. The company is poised to solidify its position as a leader in income verification technology for the public sector.
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