About Grove
Grove is a company based in San Francisco (United States) founded in 2015 by Chris Doyle and Chris Hutchins was acquired by Wealthfront in August 2019. It operates as a Subscription Services. Grove has raised $10.1 million across 2 funding rounds from investors including Wealthfront, defy vc and Winklevoss Capital. The company has 17 employees as of December 31, 2022. Grove offers products and services including Financial Advice Platform. Grove operates in a competitive market with competitors including The Tifin Group, Ascensus, Learnvest, Farther and Pocketnest, among others.
- Headquarter San Francisco, United States
- Employees 17 as on 31 Dec, 2022
- Founders Chris Doyle, Chris Hutchins
-
Sectors
Technology
-
Phone
*********
-
Website
*********
-
Social
*********
- Legal Name Grove Advisors Llc
-
Annual Revenue
-
Net Profit
-
EBITDA
-
Total Equity Funding
$10.1 M (USD)
in 2 rounds
-
Latest Funding Round
$8 M (USD), Series A
Jun 20, 2018
-
Investors
Wealthfront
& 14 more
-
Employee Count
17
as on Dec 31, 2022
-
Acquired by
Wealthfront
(Aug 23, 2019)
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Products & Services of Grove
Grove offers a comprehensive portfolio of products and services, including Financial Advice Platform. 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.
Financial advice was provided online to clients.
Unlock access to complete
Product Management Team
20 people
Software Development Team
20 people
Legal and Compliance
13 people
Operations Team
10 people
Human Resources and Administration
4 people
Finance and Accounting
4 people
Data Analysis and Operations Team
3 people
Leadership Team
2 people
Unlock access to complete
Funding Insights of Grove
Grove has successfully raised a total of $10.1M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $8 million completed in June 2018. 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 2
- Last Round Series A — $8.0M
-
First Round
First Round
(09 Feb 2018)
- Investors Count 14
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2018 | Amount | Series A - Grove | Valuation | Defy | |
| Feb, 2018 | Amount | Seed - Grove | Valuation | First Round Capital |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Grove
Grove has secured backing from 15 investors, including venture fund and angel investors. Prominent investors backing the company include Wealthfront, defy vc and Winklevoss Capital. 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 |
|---|---|---|---|---|
|
Early-stage venture capital investments are made in US geographies.
|
Founded Year | Domain | Location | |
|
Venture capital investments are managed by Winklevoss brothers' family office.
|
Founded Year | Domain | Location | |
|
Early-stage tech startups in regulated markets are funded by TVP.
|
Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
|
Founded Year | Domain | Location | |
|
Startup ecosystems are ignited through strategic investments by Signite Partners.
|
Founded Year | Domain | Location | |
|
Venture capital is directed toward companies in multiple sectors.
|
Founded Year | Domain | Location | |
|
Venture capital is invested in cybersecurity, fintech, and AI startups.
|
Founded Year | Domain | Location |
Investments & Acquisitions by Grove
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Bionic investment advisor platform
|
2016 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
Financial Statements - Grove
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Grove Comparisons
Competitors of Grove
Grove 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 The Tifin Group, Ascensus, Learnvest, Farther and Pocketnest, 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 |
AI-enabled financial planning and advisory solutions are provided for individuals.
|
|
| domain | founded_year | HQ Location |
Retirement, health, and college savings services are administered nationwide.
|
|
| domain | founded_year | HQ Location |
Personal finance management and investment advise
|
|
| domain | founded_year | HQ Location |
App-based financial planning and management platform for individuals
|
|
| domain | founded_year | HQ Location |
An app-based platform is provided for individual wealth management.
|
|
| domain | founded_year | HQ Location |
Financial planning and advisory platform
|
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
|
|
| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
|
|
| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
|
|
| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
|
Latest news on Grove
Frequently Asked Questions about Grove
When was Grove founded?
Grove was founded in 2015 and raised its 1st funding round 3 years after it was founded.
Where is Grove located?
Grove is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Who is the current CEO of Grove?
Chris Hutchins is the current CEO of Grove. They have also founded this company.
Is Grove a funded company?
Grove is a funded company, having raised a total of $10.1M across 2 funding rounds to date. The company's 1st funding round was a Seed of $2.1M, raised on Feb 09, 2018.
How many employees does Grove have?
As of Dec 31, 2022, the latest employee count at Grove is 17.
What does Grove do?
Financial advice was offered by Grove through an online platform to make it accessible and affordable. The company aimed to reduce financial stress for Americans by providing honest guidance. Services have been discontinued as the team joins Wealthfront to focus on technology and automation for broader impact in financial optimization.
Who are the top competitors of Grove?
Grove's top competitors include The Tifin Group, Ascensus and Farther.
What products or services does Grove offer?
Grove offers Financial Advice Platform.
Who are Grove's investors?
Grove has 15 investors. Key investors include Wealthfront, defy vc, Winklevoss Capital, Kevin Durant, and Patrick Kearny.
Book a demo & talk to our team
Share a few details and we’ll reach out to schedule a session.