Betterment Inc., already the largest automated investment advisor, announced Thursday it has landed $60 million in financing to help it grow.
The funding was led by San Francisco-based private equity firm Francisco Partners, in conjunction with Bessemer Venture Partners, Menlo Ventures and Northwestern Mutual Capital, which had previously invested in Betterment.
The privately held, New York-based robo advisor, which manages more than $1.4 billion of assets for more than 65,000 customers, also said that Peter Christodoulo of Francisco Partners is joining the company as a member of its board of directors.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.