The Rise of Robo-Advisors: Betterment Raises $100 Million in Funding
By Arielle O’Shea
If there was any doubt about the future of robo-advisors, the latest announcement from online advisor Betterment may quash it: The company says it has raised $100 million from investors in its latest round of funding, giving it a valuation of $700 million.
That’s the biggest round of funding for any robo-advisor so far, promising to help Betterment solidify its position as the largest independent offering. The company manages 150,000 customer accounts and $3.9 billion in assets, up from $1.1 billion just 15 months ago.