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He took a fresh look at the personal finance technology market after he and his wife had their second child, and he wanted a more sophisticated tool to manage their family finances. He was CEO of Seattle-area mobile phone back-up service Dashwire after its $18.5 million acquisition by HTC in 2013. “I knew a little about personal finance, but vanishingly little about taxes.”Īn alum of Seattle’s Lakeside School, he graduated from Middlebury College and got an MBA from Dartmouth, working as a JP Morgan Chase technology M&A analyst before going into the wireless industry.
“I always thought that was ironic and funny, because what does a college kid know about taxes?” he recalled. As a college student, he interned as a program manager on Microsoft Money, assigned to build tax features into a new version of the software.
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Tiller’s Microsoft partnership brings Polson full circle. Tiller CEO Peter Polson worked on Microsoft Money as a college intern. The company has also been an early adopter of Envestnet | Yodlee’s open banking technology for accessing bank data without sharing user names and passwords. The company says it never sees the user names and passwords that customers enter at their financial institutions to authorize the automated feeds of financial data that populate the spreadsheets.
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Tiller comes with a series of security precautions. It has a 4.7-star average rating on Google Workspace Marketplace based on nearly 50,000 installs. The company doesn’t disclose specific subscriber numbers but says it has tens of thousands of customers. The company has reached a breakeven point and is becoming profitable, Polson said. Tiller has raised an undisclosed amount of funding from people whom Polson described as “seasoned technology investors,” mostly in the Seattle region. Officially founded in 2016, the company has 14 employees. Tiller, he said, “is one example of that.”
Explaining the decision, Microsoft cited its desire to focus on other areas where the company believes it can have a greater impact. Money in Excel was introduced in June 2020. Microsoft simultaneously announced that it will discontinue its own solution, Money in Excel, a year from now, on June 30, 2023.
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The payoff came with the announcement in May that Microsoft would recommend Tiller to its Microsoft 365 subscribers, offering a 60-day free trial to Tiller, twice the normal length. The result was Tiller, a subscription service that populates customizable spreadsheets with automated data feeds from banks and other financial institutions - tracking spending, income, investments, and budgets with help from templates and a community of users who share solutions and workflows.Īfter prioritizing development for Google Sheets initially, Tiller has been ramping up on Microsoft Excel since last year, based on the popularity of what was then its limited Excel solution.