Composer Technologies, a US-focused automated investing platform, has closed a $6m investment.
New York-based investor Left Lane Capital led the round. First Round Capital, AVG Basecamp, Draft Ventures and Not Boring Capital, also joined the round.
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In the past few months, Composer has recorded a 400% growth in trading volume and % AUM growth.
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Composer simplifies the process of market research and monitoring. Its platform, which launched in November 2021, allows investors to automatically invest in strategies that react to the market and capture the upside, while protecting their downside.
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It stated this systematic investing style is typically locked away from most investors due to time, data costs and skills.
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The automated investing platform gives users the chance to build, backtest, and invest in strategies.
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Composer CEO Benjamin Rollert said “During the lengthy recent bull market, many individual investors entered the marketplace for the first time and saw quick success, unfortunately, and especially for newer investors, it was easy to confuse luck with skill.
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“With inflation now at a 41-year high, the same investors then experienced one of the worst periods for stocks and bonds in history and illusions were shattered. Investors are taking a sober look at their strategies and are increasingly thinking about how they can invest more intelligently going forward, that is where Composer comes in.”
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The Canadian WealthTech company has raised a total of $11m. It previously raised $5.35m in its seed funding round back in November 2021. The capital came from First Round Capital and Golden Ventures.
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Left Lane Capital recently joined the $125m Series A of iTrustCaptial. The funding round put iTrustCaptial valuation at $1.3bn. The WealthTech company aims to make the IRA investment process easy. Users can access 24/7 trading, with live customer support and a diverse list of crypto assets.
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