Upside, a San Francisco, CA-based managed account platform provider for investment advisors, closed a $1.1m funding round.
Backers included Cultivation Capital, SixThirty, Balderton Capital (Suranga Chandratillake) and Data Collective (Bruno Bowden). In conjunction with the funding, Cliff Holekamp of Cultivation Capital joined Upside’s board of directors.
The company intends to use the funds to further invest its its tech platform and accelerate sales and marketing efforts.
Led by and Juney Ham, co-founder and President, and Tom Kimberly, co-founder and CEO, Upside provides investment advisors with a a fully-automated, white-labeled platform to manage emerging affluent clients. It features paperless account opening, portfolio selection, automated trading and rebalancing, client and advisor portals, and practice analytics.
The company has also partnered with Shareholders Service Group (SSG), a Broker/Dealer based in San Diego, California that provides brokerage services to over 1,200 independent investment advisors across the country.
Upside was part of the inaugural class at SixThirty, a San Francisco, California and Saint Louis, Missouri-based financial technology accelerator by Jim McKelvey, a co-founder at Square.