According to a blog post, Wealthfront, a Palo Alto, Calif.-based provider of an automated investment service, closed a $35m funding.
The round was led by Index Ventures and Ribbit Capital with participation from The Social+Capital Partnership, Greylock Partners, DAG Venture and other individuals.
The company intends to use the funds to invest in people and technology and add new features and services to its solutions.
Led by Adam Nash, President and CEO, Andy Rachleff, Executive Chairman, and Burton Malkiel, Chief Investment Officer, Wealthfront provides an automated investment service (AIS) that combines financial research with a cloud-based architecture to deliver both monitoring and management of long-term investments.
Launched in 2013, it has clients across all 50 states and Washington, D.C., with accounts ranging in size from $5k to over $10m and more than $800m in assets under management.
21/03/2013: Wealthfront Closes $20M Second Financing