Investment management outfit SigFig raises $15m
03 July 2013 | 2299 views | 0
SigFig, a US start-up which helps users track and manage their investments, has raised $15 million in a funding round led by Union Square Ventures and Bain Capital Ventures.
SigFig's Web and mobile apps pull in users' data from things like 401k's and brokerage accounts into a single dashboard. The system then analyses the data and, once a week, diagnoses portfolios and provides advice on how users can boost performance.
The company has managed to secure major deals with media partners like CNN and USA Today, powering portfolio trackers on their sites. The strategy has helped draw in users, with the service now helping people manage around $75 billion in assets, up from $50 billion just a few months ago.
Money from the latest funding round - which was joined by existing investors DCM and some angels - will be used to push for more partnerships and to make staff hires.