Total amount raised
$119.5 Millions
Latest funding date
6/1/2018
Location
SigFig has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers a suite of digital wealth management solutions designed to empower financial institutions and individual investors.
Keep reading to explore the intricacies of SigFig's fundraising journey and the investors backing this innovative platform.
What Is SigFig?
Founded in 2007, SigFig is a digital wealth management company headquartered in San Francisco, California. The company was established by Mike Sha and Parker Conrad.
SigFig leverages design, data science, and technology to provide high-quality investment advice and financial services. They partner with large financial institutions to enhance investment management capabilities.
With a team of 101-250 employees, SigFig aims to make investment advice accessible and affordable to investors of all wealth levels.
How Much Funding Has SigFig Raised?
- Series A
- Amount Raised: $2.5M
- Date: October 2007
- Lead Investors: DCM Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company's foundation and develop its initial product offerings.
- Series B
- Amount Raised: $15M
- Date: July 2013
- Lead Investors: Bain Capital Ventures, Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Series C
- Amount Raised: $11M
- Date: June 2014
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Venture Round
- Amount Raised: $1M
- Date: April 2015
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing product development and innovation.
- Series D
- Amount Raised: $40M
- Date: May 2016
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand partnerships with financial institutions.
- Series E
- Amount Raised: $50M
- Date: June 2018
- Lead Investors: General Atlantic
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue research and development and expand advisory capabilities.
Total Amount Raised: $119.5M. Current Valuation: Not publicly disclosed.
Key Investors
- General Atlantic
- Details: General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. They have a strong track record of investing in high-growth sectors.
- Investment Focus Areas: Technology, financial services, healthcare, consumer.
- Notable Investments: Airbnb, Alibaba, Uber.
- Bain Capital Ventures
- Details: Bain Capital Ventures is the venture capital division of Bain Capital, investing in seed to growth-stage startups. They focus on building and scaling innovative companies.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: LinkedIn, DocuSign, Jet.com.
- DCM Ventures
- Details: DCM Ventures is a venture capital firm investing in early-stage technology companies. They have a global presence with a focus on the U.S., China, and Japan.
- Investment Focus Areas: Technology, fintech.
- Notable Investments: SoFi, Lime, Bill.com.
- Union Square Ventures
- Details: Union Square Ventures is a venture capital firm that invests in early-stage technology companies. They are known for their hands-on approach and strong community of entrepreneurs.
- Investment Focus Areas: Technology, fintech.
- Notable Investments: Twitter, Etsy, Tumblr.
- Nyca Partners
- Details: Nyca Partners is a venture capital firm focused on fintech investments. They aim to bridge the gap between financial services and technology.
- Investment Focus Areas: Fintech.
- Notable Investments: Acorns, Affirm, Digit.
What's Next for SigFig?
SigFig stands at the cusp of significant growth opportunities, driven by the increasing demand for accessible and affordable financial advice. The company plans to expand its advisory and planning capabilities, including retirement planning and other long-term financial goals. This expansion, coupled with their strong partnerships with major financial institutions like Wells Fargo and UBS, positions SigFig to capture a substantial share of the growing market for digitally-native investment advisors.
Future fundraising opportunities appear promising, given the successful $50 million Series E round led by General Atlantic. This financial backing, along with the involvement of prominent investors, suggests that SigFig could attract further investment to fuel its technological advancements and market expansion. However, the company will need to navigate challenges such as competition from other fintech firms and regulatory hurdles in the financial services industry. Maintaining innovation and customer trust will be crucial as SigFig continues to scale its operations.
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