Vise, an AI-powered investment management platform built for advisors, has announced it has raised $65 million in Series C funding. The latest round was led by Ribbit Capital, with participation from existing investors including Sequoia Capital. The Series C round brings the total capital raised since Vise’s founding to over $125 million.
Vise has further bolstered its executive leadership with the appointment of Andrew Fong, former Vice President of Infrastructure Engineering at Dropbox, as Vise’s Chief Technology Officer; and Dave Twardowski, former Vice President at Avantis Investors and Dimensional Fund Advisors, as Vice President and Head of Investment Strategy.
“The additional funding will accelerate Vise’s investments in its platform, the hiring of the best available talent and the rollout of new product features. A key focus area will be continuing to scale the engineering function led by CTO Fong,” the company said in a statement.
“In 2020, we successfully focused on strengthening our foundation, and now in 2021 we are focused on scaling Vise to make it an even more valuable platform for advisors and their clients,” said Samir Vasavada, Co-Founder and CEO of Vise. “In the past year our assets under management have grown by more than 60x and we’ve seen incredibly strong demand from advisors. Put simply, this funding will allow us to make even bigger investments faster.”
“Vise’s rapid growth is a reflection of the progress the team has made over the past year in advancing its technology and building a truly world-class team,” said Shaun Maguire, Partner at Sequoia and Vise board member. “Since we first partnered with Vise at the seed, the company is in an even stronger position to benefit from powerful tailwinds in the industry. We couldn’t be more excited to be further deepening our partnership with Samir, Runik and team.”
“Vise has the opportunity and potential to shape the future of investment management,” said Micky Malka, Managing Partner at Ribbit Capital. “We’re excited to partner with Samir and Runik and the entire Vise team as they work to empower financial advisors with the technology and tools they need.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.