Betterment, a NYC-based provider of an online investment advice service, has raised $10m in second funding.
The round was led by Menlo Ventures, with participation from existing investors Bessemer Venture Partners and Anthemis Group.
The company intends to use the funding to improve their product expanding mobile functionalities and providing better options for shorter term goals, and a more holistic approach to money management.
Launched in 2010 by Jon Stein, CEO, Betterment provides behavior-based financial advice. It includes Traditional and Roth IRAs, auto-deposit, auto-rebalancing, goal-based investing, and recently introduced Betterment Gifts, a gift registry that enables people to contribute towards their friends and family’s goals.