• FOUNDING YEAR: 2008
    LOCATION:
    United States
    REGION:
    NY
    Last Update:
    27 Jun, 2019

Description

FOCUS

PRODUCTS & SERVICES:
Provides services for financial planning, retirement, IRAs, trust & tax loss harvesting, and help its users by automating investing services to manage, protect, and grow their wealth.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Invested, Burgess Financial Planning, and Henfruit.
EXISTING PARTNERSHIPS:
Fidelity, and XY Planning Network.
COMMENT
The company aims at giving its customer 4.30% higher returns compared to a typical DIY investor.

PEOPLE

FOUNDERS:
Jon Stein, Eli Broverman
Board Members and Advisors:
Arvind Purushotham, Charles Birnbaum, Saman Majd, Steve Lockshin, Geert Bekaert, Phillip Riese, John Jarve, Rob Stavis
NUMBER OF EMPLOYEES:
201-500
INVESTORS:
Anthemis Group, Menlo Ventures, Francisco Partners, Red Swan Ventures, Northwestern Mutual, Bessemer Venture Partners, Andy Dunn, Fabrice Grinda, Citi Ventures, Globespan Capital Partners, Reinmkr capital, Jason Finger, and AB Kinnevik.
KEY EMPLOYEES:
Eli Boverman (COO), Jonathan Stein (CEO)

TRACTION

VALUATION / MARKET CAP:
$800 MM in 2017
TRANSACTIONS VALUE:
$15 Billion in 2019
ACTIVE USERS:
0.4 Million in 2019
COMMENT:
The company manages over $15 billion in assets for 400,000 customers. (Feb. 2019)

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$275 Millions
DATE OF LAST FUNDING:
Jul 2017
TOTAL FUNDING COMMENT:
The company will use its fund to build new products. (July 2017)
FUNDING SERIES:
SERIES A
$3 Millions Closed: Dec 2010
SERIES B
$10 Million Closed: Oct 2012
SERIES C
$32 Millions Closed: Apr 2014
SERIES D
$60 Millions Closed: Feb 2015
SERIES E
$170 Million Closed: Jul 2017
LISTED:
NO

LATEST RESEARCH