• FOUNDING YEAR: 2011
    LOCATION:
    United States
    REGION:
    California
    Last Update:
    18 Oct, 2019
    Phone:
    +1 650-249-4250

Description

FOCUS

PRODUCTS & SERVICES:
Automated Investment management and advisory services for investors. The platform provides for various accounts including Taxable Accounts, IRA Accounts, Roth IRA Accounts, SEP IRA Accounts, 529 Plan Accounts and Trusts. It offers services such as Direct Indexing, Tax-loss Harvesting, Single-Stock Diversification, Portfolio Review, Third-Party Account Support, College Savings Plan and Retirement Planner. It helps users manage and build a diversified portfolio. Recently, Wealthfront launched advanced indexing to deliver clients higher after-tax returns at no incremental cost.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Retail Investors
EXISTING PARTNERSHIPS:
Partnered with Apex Clearing Corporations to provide brokerage services to their clients.
COMMENT
Wealthfront is using Artificial Intelligence to manage over $5 billion in assets.

PEOPLE

FOUNDERS:
Dan Carroll, Andy Rachleff
Board Members and Advisors:
Jeremy Philips, Mike Volpi
NUMBER OF EMPLOYEES:
51-200
INVESTORS:
Spark Capital, Dragoneer Investment Group, Ribbit Capital, Marissa Mayer, Benchmark Capital, Alison Rosenthal, Mark Pincus, Paul Kedrosky, Index Ventures, The Social+Capital Partnership, SK Ventures, Greylock Partners, DAG Ventures, Timothy Ferriss, Cipora Herman, Michael Schroepfer, Andy Dunn, Satya Patel, Matt Mullenweg, Adam D'Angelo, Hunter Walk, Andy Rachleff, Bruce Dunlevie, Ben Horowitz, Marc Andreessen, Doug Mackenzie, Kevin Compton, Tiger Global Management
KEY EMPLOYEES:
Andy Rachleff(President, CEO); Burton Malkiel(Chief Investment Officer); Ashley Fieglein Johnson(COO & CFO); David Fortunato(CTO); Daniel Carroll(Chief Strategy Officer)
COMMENT:
1) Andy Rachleff: Andy Rachleff is a co-founder and Executive Chairman of Wealthfront. He had previously been the executive chairman of the company after stepping down as the CEO, but then returned to the CEO role in 2016. He is also a trustee of the University of Pennsylvania, chairman of the board of overseers for its School of Engineering and Applied Science and vice chairman of its endowment investment committee. He is also a board member of the Damon Runyon Cancer Research Foundation. 2) Dan Carroll is the Founder & Chief Strategy Officer of Wealthfront. Daniel holds a B.S. in Finance from University of Arizona and was named one of the “Best Young Tech Entrepreneurs under 30” by Bloomberg Businessweek in 2011.

TRACTION

VALUATION / MARKET CAP:
$500 MM in 2018
REVENUE:
$10M+ in 2018
REVENUE COMMENT:
Viewable by subscribers only
TRANSACTIONS VALUE:
$5 Billions
TRANSACTIONS COMMENT:
Currently, the company is managing over $5 billion in assets till date.(Feb 2017).
COMMENT:
It is planning to launch 529 college savings plan in partnership with the state of Nevada and Ascensus college savings.

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$204.5 Millions
DATE OF LAST FUNDING:
Jan 2018
TOTAL FUNDING COMMENT:
The company is planning to use the fund for expansion for its client base (Jan 2018).
SEED & PRIOR FUNDING:
$3 Millions
FUNDING SERIES:
SERIES A
$7.5 Millions Closed:
SERIES B
$20 Millions Closed: Mar 2013
SERIES C
$35 Millions Closed: Apr 2014
SERIES D
$64 Millions Closed: Oct 2014
SERIES E
$75 Millions Closed: Jan 2018
LISTED:
NO

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