What's a Series B?

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So - going through your blog, found this:
Just a few short weeks after launching the Automatic App Gallery and Developer Platform, we’re back with more big news: Automatic just closed a Series B round of $24M, bringing our total funding to $32M.
We’re proud to announce that our Series B round is being led by USAA,
one of the most respected brands in the financial services (and possibly any) industry. USAA has a legendary reputation for customer service. From year to year, 98% of its members stay with USAA, something we look to with great respect and admiration.
. . . what? What's a "Series B?" Definitely not a financial guy here, heh.

That said, however: I'd definitely vouch for USAA. If you're eligible, they're worth having. Their support staff is stellar. Their phone app has all of the features you'd expect. Their website works great and has top-notch security (SSL Labs gives them an A+). I'd definitely recommend them over the other financial services and banks I've used.
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Posted 3 years ago

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Tom, Former Employee

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Hi there, Jeremiah. "Series B" refers to a second round of funding by private equity investors or venture capitalists (while a "Series A" refers to a first round). Here's a link to an external article that explains things a bit more.

Thanks for the continued support as well :) We have a lot of exciting developments planned for the future.

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