Vise has successfully raised nearly $130 million over four funding rounds, achieving a valuation of over $1 billion. The platform leverages artificial intelligence to help financial advisors build, manage, and explain personalized portfolios for their clients.
Keep reading to explore the intricacies of Vise's fundraising journey and the investors backing this innovative platform.
What Is Vise?
Vise, founded in 2016, is a technology-powered asset manager headquartered in New York City. The company leverages artificial intelligence to assist financial advisors in building, managing, and explaining personalized investment portfolios.
Co-founded by Runik Mehrotra, Vise aims to create financial freedom for all investors through personalized, automated, and intelligent investments across all asset classes. The company is at the forefront of Wealth 3.0, moving beyond traditional investment vehicles.
With a team of around 70 employees, Vise continues to innovate in the financial advisory space, providing tools for proposal generation, reporting, tax loss harvesting, and rebalancing.
How Much Funding Has Vise Raised?
- First Infusion of Outside Capital
- Amount Raised: $20,000
- Lead Investors: Dorm Room Fund
- Motivation Behind the Round: To help them through the daunting fundraising process.
- Seed Round
- Amount Raised: $2 million
- Lead Investors: Keith Rabois (Founders Fund) and Ben Ling (Bling Capital)
- Motivation Behind the Round: To exit the era of self-funding and launch their AI-enabled portfolio manager.
- Series A Round
- Amount Raised: $14.5 million
- Date: May 12, 2020
- Lead Investors: Sequoia Capital
- Motivation Behind the Round: To accelerate the growth of advisor partnerships and product development.
- Series B Round
- Amount Raised: $45 million
- Date: December 16, 2020
- Lead Investors: Sequoia Capital
- Motivation Behind the Round: To continue building out and enhancing its product and functionalities, and to expand its team.
- Series C Round
- Amount Raised: $65 million
- Date: May 18, 2021
- Lead Investors: Ribbit Capital, Sequoia
- Valuation at Round: $1 billion post-money valuation
- Motivation Behind the Round: To build technical infrastructure and systems for managing large-scale assets and to expand the company's market reach.
Vise has raised a total of $126.5 million and is currently valued at $1 billion.
Key Investors
- Sequoia Capital
- Details: Sequoia Capital is a leading venture capital firm that has invested in numerous successful companies. The firm helps founders build companies from idea to IPO and beyond.
- Investment Focus Areas: Technology, healthcare, consumer, financial services
- Notable Investments: Apple, Google, Oracle
- Ribbit Capital
- Details: Ribbit Capital is a venture capital firm specializing in financial technology. They led Vise's $65 million Series C financing round.
- Investment Focus Areas: Financial technology, financial services
- Notable Investments: Coinbase, Robinhood, Credit Karma
- Founders Fund
- Details: Founders Fund is a venture capital firm investing in companies building revolutionary technologies. The firm has a focus on transformative companies across various sectors.
- Investment Focus Areas: Technology, healthcare, aerospace
- Notable Investments: SpaceX, Palantir Technologies, Airbnb
- Allen & Company
- Details: Allen & Company is a private investment firm known for its involvement in media and technology sectors. They participated in Vise's Series B round.
- Investment Focus Areas: Media, technology, communications
- Notable Investments: Facebook, Google, Twitter
- Greenoaks Capital
- Details: Greenoaks Capital is an investment firm that focuses on long-term investments in technology companies. They participated in Vise's Series B round.
- Investment Focus Areas: Technology companies
- Notable Investments: Coupang, Brex, Robinhood
What's Next for Vise?
Vise stands at the cusp of a significant opportunity, aiming to empower independent financial advisors with AI-driven tools. The wealth management industry, valued at $84 trillion, offers a vast market for Vise to tap into. With assets under management growing fourfold to $250 million, the potential for expansion is immense.
Future fundraising seems promising, given the bullish market for fintech investments. The recent $65 million Series C round, led by Ribbit Capital, underscores investor confidence. However, scaling technical infrastructure to manage large-scale assets and competing with established advisories remain challenges. Navigating these hurdles will be crucial for Vise's sustained growth.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Vise and gather other critical business insights.
Sign up for free on Clay and start making data-driven decisions today.
