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Vise, a U.S.-based AI-powered investment management platform specifically for advisors, announced on Tuesday it raised $65 million through its Series C investment round, which was led by Ribbit Capital with participation from Sequoia Capital. The investment round brings Vise’s total funding raised to over $125 million.
Founded in 2016 by Samir Vasavada and Runik Mehrotra, Vise notably uses artificial intelligence (AI) to automate investment management for financial advisors.
“Vise has built a full-stack platform spanning the entire lifecycle of the advisor-client relationship, including designing custom indexes, managing the portfolio, and providing on-going intelligence. By doing so, Vise helps financial advisors focus on what matters most—their clients.”
Vise further revealed since its Series B funding round in December 2020, its assets under management have more than quadrupled to more than $250 million and client accounts have more than doubled. The company also completed the integration with major custodians and released several new product features for customers. Samir Vasavada, Co-Founder and CEO of Vise, further revealed:
“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. 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 then concluded that the investment round’s funds will accelerate its 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.
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