About Betterment
Betterment is a company based in New York (United States) founded in 2010 by Eli Boverman and Jonathan Stein.. Betterment has raised $335 million across 10 funding rounds from investors including Citi, Bessemer Venture Partners and Francisco Partners. Betterment has completed 4 acquisitions, including Gradvisor, ImpulseSave and Makara. Betterment offers products and services including Automated Investing, High-Yield Cash, and IRAs. Betterment operates in a competitive market with competitors including Stash, Wealthsimple, Wealthfront, Wahed and SigFig, among others.
- Headquarter New York, United States
- Founders Eli Boverman, Jonathan Stein
- Stage Minicorn
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Sectors
Technology
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Email
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Phone
*********
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Website
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Social
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- Legal Name Betterment Llc
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Products & Services of Betterment
Betterment offers a comprehensive portfolio of products and services, including Automated Investing, High-Yield Cash, and IRAs. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Service for building and managing diversified portfolios automatically.
Account offering higher interest rates for cash savings.
Tax-advantaged accounts for retirement savings and planning.
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Software Development Team
75 people
Sales and Marketing
27 people
Product Management Team
24 people
Legal and Compliance
20 people
Senior Team
17 people
Leadership Team
16 people
Finance and Accounting
14 people
Operations Team
13 people
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Funding Insights of Betterment
Betterment has successfully raised a total of $335M across 10 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $100 million completed in September 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 10
- Last Round Debt – Conventional — $100.0M
- First Round First Round
- Investors Count 18
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Sep, 2021 | Amount | Debt – Conventional - Betterment | Valuation |
investors |
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| Sep, 2021 | Amount | Series F - Betterment | Valuation | Treasury | |
| Jul, 2017 | Amount | Series E - Betterment | Valuation | Kinnevik |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Betterment
Betterment has secured backing from 18 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Citi, Bessemer Venture Partners and Francisco Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture debt financing is provided to companies across multiple sectors.
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Founded Year | Domain | Location | |
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ORIX USA is engaged in middle market asset management and lending.
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Founded Year | Domain | Location | |
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Investments in fintech companies are made by Treasury.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Betterment
Betterment has strategically engaged in corporate development activities, having acquired 4 companies. Notable acquisitions include Gradvisor, ImpulseSave and Makara. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Employer-enabled savings management platform for education
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2015 | ||||
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Online Piggy Bank
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2010 | ||||
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Cryptocurrency investments are guided by Makara's robo advisor platform.
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2008 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Betterment
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Betterment Comparisons
Competitors of Betterment
Betterment operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Stash, Wealthsimple, Wealthfront, Wahed and SigFig, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Automated investment and robo-advisory services are offered to individuals.
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| domain | founded_year | HQ Location |
Online robo advisory and stock trading services are provided.
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| domain | founded_year | HQ Location |
Robo-advisory and financial planning services are provided for investments.
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| domain | founded_year | HQ Location |
Shariah-compliant investments and savings are offered to individuals.
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| domain | founded_year | HQ Location |
Investment accounts are linked and portfolios managed online.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Betterment
Frequently Asked Questions about Betterment
When was Betterment founded?
Betterment was founded in 2010.
Where is Betterment located?
Betterment is headquartered in New York, United States. It is registered at New York, New York, United States.
Is Betterment a funded company?
Betterment is a funded company, having raised a total of $335M across 10 funding rounds to date. The company's 1st funding round was a Series E of $70M, raised on Nov 01, 2010.
What does Betterment do?
Betterment was founded in 2010 in New York, United States, as a fintech platform focused on automated investment services. Tools for spending, saving, and creating customized financial plans are offered to users. Investments are directed toward exchange-traded funds (ETFs) and cash reserves to support long-term goals. The platform operates through apps available on Android and iOS devices, serving individual investors across the country.
Who are the top competitors of Betterment?
Betterment's top competitors include Wealthsimple, Stash and Wealthfront.
What products or services does Betterment offer?
Betterment offers Automated Investing, High-Yield Cash, and IRAs.
How many acquisitions has Betterment made?
Betterment has made 4 acquisitions, including Gradvisor, ImpulseSave, and Makara.
Who are Betterment's investors?
Betterment has 18 investors. Key investors include Citi, Bessemer Venture Partners, Francisco Partners, Kinnevik, and Anthemis Group.
What is Betterment's valuation?
The valuation of Betterment is $700M as of Mar 2016.
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