Jemstep, a Los Altos, CA-based online investment advisor for retirement, raised an additional $4.5m in a follow-on to its Series A funding.
Backers included existing investors as well as new investor Caleo Capital.
The company, which has now raised $15m, intends to use the funds to expand distribution, enhance the service, and make new hires.
Led by Simon Roy, President and newly hired Silicon Valley startup veteran Mark Richards who leads product management, Jemstep aims to help self-managed investors make the most from their savings for retirement. A Registered Investment Advisor with the SEC, it uses patented technology and portfolio management methodologies to tell users exactly what to buy and sell to maximize their returns without undue risk, avoid high fees, and reduce taxes.
A Basic Account is free. Premium Services are available for a monthly fee depending on portfolio size, starting at $17.99 per month (a premium account is free for those with under $25,000).
01/02/2012: Jemstep Completes $6M Series A Financing