SigFig, a San Francisco, CA-based investment advice service for investors of all wealth levels, raised $50m in Series E funding.
The round was led by General Atlantic, with participation from existing investors Bain Capital Ventures, DCM Ventures, Eaton Vance, New York Life, Nyca Partners, UBS, and Union Square Ventures. In conjunction with the funding, Paul Stamas, Managing Director at General Atlantic, will join SigFig’s board of directors.
The company intends to use the funds to accelerate investments in technology.
Founded in 2007 by Mike Sha, CEO, SigFig provides a platform that uses data science and technology to give investors the information and guidance they need to achieve their financial goals. SigFig provides this offering directly to consumers through SigFig.com and also offers an Enterprise Digital Wealth Management platform that powers automated investment services for financial institutions such as Wells Fargo, UBS, and Citizens Bank.