Betterment Raises $100 Million at $700 Million Valuation
By Niva Goldberg
Betterment, the startup for online financial robo-advisor, today announced a $100 million Series E round of funding that has boosted the company’s valuation by 55 percent to $700 million. That’s compared to $450 million from February of 2015 its previous fundraising, according to research firm CB Insights, via Bloomberg.
Founded in 2008 by CEO Jon Stein and Eli Broverman, Bettermen’s total funding todate is $205 million. Robo-advisers use new technology to offer better returns than traditional financial advisers.