Robo-Adviser Betterment Sees $700 Million Valuation After New Round of Funding
By Julie Verhage
Online financial adviser Betterment LLC has secured $100 million in new funding that has boosted the company’s valuation by 55 percent.
The round was led by Investment AB Kinnevik, a Swedish investment firm, and sees the so-called robo-adviser’s valuation rise to $700 million, compared to $450 million from a previous fundraising in February of 2015, according to research firm CB Insights. The move has also doubled the firm’s total funding, which now sits at $205 million.