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 positions Steady within the critical intersection of fintech and government services, addressing a substantial need for efficient and reliable data exchange in the public sector.
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 25 Madison, Clocktower Group, Omidyar Network, and Propel Venture Partners
Series B (2020): $15M led by CMFG Ventures, Recruit Strategic Partners, Loeb Enterprises, Flourish Ventures, and Propel Venture Partners
Key Investors in Steady
Omidyar Network
Omidyar Network is a philanthropy focused on shaping the digital revolution to promote shared power, prosperity, and possibility. They engage with a diverse network of visionaries and innovators to influence the critical areas of culture, governance, business, and technology.
Propel Venture Partners
Propel Venture Partners is an investment firm that focuses on the future of financial services. They invest in companies that are transforming the financial ecosystem, often with a focus on fintech and innovative solutions.
CMFG Ventures
TruStage Ventures is the venture capital arm of TruStage, dedicated to accelerating fintech growth by funding innovators in the financial services sector. The company aims to enhance financial security for its members while bringing financial technology innovations to the credit union industry.
What's next for Steady?
The recent major strategic investment signals a new phase of growth and development for Steady. This capital infusion is likely to fuel further platform enhancements, expand its reach to more government agencies, and potentially explore new verticals within the broader income verification market. The company's trajectory, marked by successive funding rounds including a Series A and Series B, indicates a strong market validation and a clear path toward scaling its operations. Steady is poised to further solidify its position as a key technology provider for public benefit programs, driving efficiency and accuracy in eligibility determination.
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