San Francisco-based personal finance company Credit Karma Inc. is expanding into Culver City, taking up new offices, and looking to add more staff. Offering free credit scores as a part of their financial services menu, the 12 year old company has been having a growth spurt, and new digs will will fill quickly.
The firm’s new 18,500-square-foot office at One Culver, is slated to open July 29, 2019. Credit Karma is currently working out of an office in Venice as well as nearby WeWork locations.
“We’ve been bursting at the seams,” said Colleen McCreary of Credit Karma. “This is a great opportunity for us to bring a number of employees together in one spot and ideally add a bunch more.”
Credit Karma plans to triple the number of employees in the new space, which can hold up to 115 people.
McCreary said Credit Karma leased the space for seven years but declined to specify how much money was spent on renovating the space or on rent.
The San Francisco-based company made its first foray into Los Angeles in 2016. The company already had some software engineers based in the area but announced plans that year to further expand into the market and hire additional staff. The L.A. team has since grown to more than 50 people, some based in the coworking locations.
All of Credit Karma’s services are free to consumers. Revenue from targeted advertisements for financial products offsets the costs of its free products and services. Credit Karma earns revenue from lenders, who pay the company when Credit Karma successfully recommends customers to the lenders.
The company’s L.A. offices host the auto and insurance teams, and part of the product management, marketing, analytics, finance and facilities, security, and talent acquisition staff.
Credit Karma’s new space will have an open floor plan, multiple conference rooms, and perks like a massage room, library and games area.
The company worked with ASD | SKY and Howard Construction on the project.
Additional text from Hannah Madans, Los Angeles Business Journal