Betterment is a goal-based online investment company, delivering personalized financial advice paired with low fees and customer experience.
Its technology enables users to manage their investments in a customized, diversified portfolio. Charging a management fee of 0.25%, the company’s mobile app enables users to access, view, share, and review their portfolio’s activities as well as deposit and withdraw money from anywhere, anytime. Betterment has assets under management: 10 billion USD
Betterment was founded in 2008 in New York City by Jon Stein, a Columbia Business School MBA graduate, and Eli Broverman, a lawyer out of NYU School of Law. Stein and his roommate Sean Owen, a Google software engineer, started building the first online platform for Betterment in 2008 using a Java application and MySQL database on Apache Tomcat servers with an Adobe Flash- and Flex-based front-end design.
Betterment has a Total Funding of $275M in 7 Rounds. Most recently on Jul 21, 2017 the company raised $70M from Kinnevik AB in their Series E. Their Lead Investors includes Kinnevik AB, Francisco Partners, Globespan Capital Partners etc.