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.
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