{"id":3639,"date":"2013-03-20T09:15:59","date_gmt":"2013-03-20T16:15:59","guid":{"rendered":"http:\/\/canary.kcprod.info/blog\/?p=3639"},"modified":"2022-01-11T17:12:43","modified_gmt":"2022-01-12T01:12:43","slug":"finance-tech-startup-funding-2013","status":"publish","type":"post","link":"https:\/\/canary.kcprod.info/blog\/finance-tech-startup-funding-2013\/","title":{"rendered":"Everyone Deserves Sophisticated Investment Advice"},"content":{"rendered":"

A<\/span>t Wealthfront, our mission is to provide the high-quality financial advice offered by the best financial institutions and private wealth managers, without the high account minimums or costs.<\/p>\n

\n

Our assets under management have grown more than 70% just since the beginning of 2013.<\/p>\n<\/div>\n

When we launched our flagship service in December 2011, we hoped investors would love our extremely simple, transparent service informed by top academic research. Since that launch, we\u2019ve relentlessly improved the product with features like automatic rebalancing, continuous tax-loss harvesting<\/a>, differentiated asset location<\/a> for tax-efficiency and a broadened set of diversified asset classes.<\/p>\n

Judging by the growth in our assets under management (AUM), our clients really seem to like what we\u2019re doing. In the little more than one year<\/em> we have offered our service, our clients have entrusted us to manage over $170 million of their assets. Our assets under management have grown more than 70% just since the beginning of 2013.<\/p>\n

Going Long<\/h2>\n

Disrupting an industry that manages trillions of dollars requires partners who share our vision.  Today, we\u2019re proud to announce that we have closed our second round of institutional financing of $20 million with some of the best investors in technology. Mike Volpi of Index Ventures<\/a> will lead the round, joined by Chamath Palihapitiya of The Social+Capital Partnership<\/a> and Reid Hoffman of Greylock Partners<\/a>.  Our new investors are joined in the round by the lead investor of our first institutional round, John Cadeddu of DAG Ventures<\/a>.  We\u2019re flattered and excited that these extraordinary partners share our long-term vision.<\/p>\n

Our new institutional investors will be joined by a number of notable individuals, including Matt Mullenweg<\/a>, Andy Dunn<\/a>, Adam D\u2019Angelo<\/a>, Michael Schroepfer<\/a>, Hunter Walk<\/a>, Cipora Herman<\/a>, and Satya Patel<\/a>, among others<\/a>.<\/p>\n

\"Wealthfront<\/a><\/p>\n

We\u2019re fortunate to have some of the most innovative minds in technology to assist us as we pursue the next phase of Wealthfront\u2019s growth.
\nWealthfront is unique among financial services companies in that we derive our value from our underlying software. Our core is our engineering-centric culture, which means we will leverage our new financing to significantly grow our product and engineering team.<\/p>\n

2013: A Year of Innovation & Growth<\/h2>\n

Building a great company takes great leadership, and we\u2019ve been working hard to assemble the best possible executive team for our next phase of growth. Burt Malkiel and I joined last fall. We are happy to report that Elliot Shmukler<\/a> has joined Wealthfront as our new Vice President of Product & Growth, and Avery Moon<\/a> has come on board as Vice President of Engineering. Most people find their career-defining moments happen when they have the opportunity to work with exceptionally talented people. I feel blessed to have the opportunity to work with Elliot and Avery on yet another market-changing company.  We\u2019re fortunate to have them on our team.<\/p>\n

Wealthfront is just getting started. Join us<\/a> on the journey.<\/p>\n","protected":false},"excerpt":{"rendered":"

At Wealthfront, our mission is to provide the high-quality financial advice offered by the best financial institutions and private wealth managers, without the high account minimums or costs. Our assets under management have grown more than 70% just since the beginning of 2013. When we launched our flagship service in December 2011, we hoped investors […]<\/p>\n","protected":false},"author":63,"featured_media":7257,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1282,1278],"tags":[1361,1362],"coauthors":[176],"class_list":["post-3639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","category-planning","tag-tech-recruiting","tag-wealthfront"],"acf":[],"yoast_head":"\nEveryone Deserves Sophisticated Investment Advice<\/title>\n<meta name=\"description\" content=\"Wealthfront Announces $20M Financing - Second institutional funding to grow product & technology team.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/canary.kcprod.info/blog\/finance-tech-startup-funding-2013\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Everyone Deserves Sophisticated Investment Advice\" \/>\n<meta property=\"og:description\" content=\"Wealthfront Announces $20M Financing - Second institutional funding to grow product & technology team.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/canary.kcprod.info/blog\/finance-tech-startup-funding-2013\/\" \/>\n<meta property=\"og:site_name\" content=\"Wealthfront Blog\" \/>\n<meta property=\"article:published_time\" content=\"2013-03-20T16:15:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-12T01:12:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/canary.kcprod.info/blog\/wp-content\/uploads\/2017\/01\/planning04.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1472\" \/>\n\t<meta property=\"og:image:height\" content=\"530\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adam Nash\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Wealthfront\" \/>\n<meta name=\"twitter:site\" content=\"@Wealthfront\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adam Nash\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/canary.kcprod.info/blog\/finance-tech-startup-funding-2013\/\",\"url\":\"https:\/\/canary.kcprod.info/blog\/finance-tech-startup-funding-2013\/\",\"name\":\"Everyone Deserves Sophisticated Investment Advice\",\"isPartOf\":{\"@id\":\"https:\/\/canary.kcprod.info/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/canary.kcprod.info/blog\/finance-tech-startup-funding-2013\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/canary.kcprod.info/blog\/finance-tech-startup-funding-2013\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/canary.kcprod.info/blog\/wp-content\/uploads\/2017\/01\/planning04.jpg\",\"datePublished\":\"2013-03-20T16:15:59+00:00\",\"dateModified\":\"2022-01-12T01:12:43+00:00\",\"author\":{\"@id\":\"https:\/\/canary.kcprod.info/blog\/#\/schema\/person\/b42438fdcdfaa6b1325e1bc4948dfc54\"},\"description\":\"Wealthfront Announces $20M Financing - 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