Robo-Adviser Betterment Gets $100 Million in Venture Capital

By Liz Moyer

Despite a turbulent market and dwindling investor appetite for stakes in private start-ups, the robo-adviser firm Betterment has received $100 million from venture capital investors, pushing its valuation to $700 million, nearly double its value this time last year.

The Swedish investment firm Kinnevik led the investment round, which also included the previous investors — Bessemer Venture Partners, Menlo Ventures, Anthemis Group and Francisco Partners.

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This article originally published March 29th, 2016 on The New York Times.