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Business Insider

This robo-adviser just raised $100 million in its latest funding round

By Portia Crowe

Betterment, a startup that uses technology to automate financial planning, just raised $100 million in a Series E round of funding.

Leading the investors is Sweden’s Kinnevik. Previous investors including Bessemer Venture Partners, Menlo Ventures, Anthemis Group, and Francisco Partners participated.

The round values Betterment, the largest of the independent so-called robo-advisers, at $700 million. That’s up from a $400 million to $500 million valuation after its Series D funding round a year ago.

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This article originally published March 29th, 2016 on Business Insider