Altruist Raises $50M in Series B Funding

Altruist, a Los Angeles CA-based provider of platform for modern financial advisors, raised $50M in Series B funding.

The round was led by Insight Partners, with follow-on participation from Series A investor Venrock, as well as Vanguard. In conjunction with the funding, Jon Rosenbaum, Principal at Insight Partners, will be joining Altruist’s board, and Jeff Horing, co-founder and Managing Director at Insight Partners, will take an observer seat.

The company intende to use the funds to expand operations and its product offerings.

Led by Jason Wenk, founder and CEO, Altruist provides a platform for modern financial advisors to improve make personalized financial advice operations. The company serves Registered Investment Advisors (RIAs) with an integrated digital platform that allows them to open accounts, invest, build models, report, and bill, all in one place.