US AI-powered investment management platform Vise has raised $65m in a Series C funding round led by Ribbit Capital.
The round also included participation from existing investor Sequoia Capital, who previously led a $45m Series B round in December 2020 and a $14.5m Series A in May of the same year. To date, Vise has raised over $125m since it was founded in 2016.
Vise uses AI to automate investment management for financial advisors. The company claims it has built a full-stack platform spanning the entire lifecycle of the advisor-client relationship, including portfolio management, providing ongoing intelligence and designing custom indexes.
Since the Series B, Vise noted its assets under management have more than quadrupled to over $250m and client accounts have more than doubled. The firm has also concluded integrations with ‘major custodians’ and released several new product features for its customers.
According to Vise, it intends to use the Series C capital to continue to expand operations and rollout of new product features.
The company also recently appointed Andrew Fong as its new chief technology officer and Dave Twardowski as vice president and head of investment strategy. Fong previously served as vice president of infrastructure engineering at Dropbox and Twardowski previously worked as vice president at Avantis Investors and Dimensional Fund Advisors.
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