Betterment

Betterment is a goal-based online investment company, delivering personalized financial advice paired with low fees and customer experience.

Betterment is the largest independent online financial advisor that serves one purpose: to help you make the most of your money.

Betterment was founded in 2008 in New York City, NY by Jon Stein, a Columbia Business School MBA graduate, and Eli Broverman, a lawyer out of NYU School of Law. The company has it's headquarter based in New York, New York.

Betterment invests in a portfolio of passive index-tracking equity and fixed income exchange-traded funds (ETFs) and offers both taxable and tax-advantaged investment accounts, including traditional and Roth individual retirement accounts (IRAs).

Betterment's current business model includes three areas of business: retail investment, a platform for advisors, and a 401(k) for mid-market business. In July 2017, Betterment announced its assets under management (AUM) had surpassed $10 billion, precisely 13.5 billion USD as of March 2018.

 

Betterments products also include Tax Loss Harvesting, a program that works to offset taxes on both gains and income; and RetireGuide, a series of online surveys to enable users to determine the success of their long-term financial goals.

 

Betterment is backed by leading investors including Bessemer Venture Partners, Menlo Ventures, Globespan Capital Partners, Kinnevik AB, & Citi Ventures among others. The company has raised a total of $275M in funding to-date. Betterment won the award of "Biggest New York Disruptor." in June 2010.

 

 

  • Year founded: 2008
  • Funding Info: $275M in 7 Funding Rounds (Last Funding Type: Series E)- Betterment has also acquired ImpulseSave onn Oct 18, 2013
  • Yearly Revenue: $200M (2018)
  • Employee Size: 201-500
  • Business Valuation: Assets Under Management: 16.4 billion USD (April 2019)
  • City/Town: New York
  • State: New York
  • Country: United States
Related businesses