Mint.com has made a mint for its venture backers.
Intuit on Monday agreed to acquire the online personal finance site for $170 million in cash, an acquisition offer that comes after the finance site had taken just $31 million in three rounds of funding.
Venture investors to get in on the deal included DAG Ventures, Benchmark Capital, Shasta Ventures, and First Round Capital. DAG injected $14 million in April.
"With this transaction, Intuit will gain another fast-growing consumer brand and a highly successful software as a service (SaaS) offering that helps people save and make money," Intuit CEO Brad Smith said in a statement.
Mountain View, California, Intuit said it plans to keep both the Quicken Online and Mint.com brands but that the latter would be its main online product for consumers. Quicken Online, the company said, would be used to help shuttle user data from desktops to online and mobile destinations.
Mint, of Mountain View, a free service, was launched September 2007 and boasts 1.5 million users. What Mint.com does is allow people to track multiple financial accounts in one portal.
Mint makes money through lead generation, recommending financial products to its member base.