Vise today announced a $65 million Series C financing round led by Ribbit Capital, with participation from existing investors, including Sequoia. The startup confirmed to TechCrunch that this round officially sent Vise into unicorn territory, with a $1 billion post-money valuation.
The startup launched on the Disrupt Startup Battlefield stage in 2019 and has since raised upwards of $125 million.
Vise uses an AI-powered platform to give independent financial advisors the same level of data as advisories with their own analyst departments.
The goal, co-founder and CEO Samir Vasavada has told me in the past, is to give indie financial advisors the time and energy to cultivate their client relationships, rather than doing the hard math of building out portfolios. Vise does a lot of heavy lifting where the latter is concerned, freeing up advisors to focus on the former.
The premise behind Vise is to use tech to empower humans, “as opposed to replacing them” by automating an industry that’s very old. The end goal is to “enable financial freedom for everyone.”
“We have to build a platform that will service hundreds of millions, billions, of dollars in assets in an automated way,” said Vasavada. “There is a lot of technical infrastructure that can be built, and systems around trading and around go-to-market so we can attack this industry.”
Since raising the company’s Series B, assets under management have ballooned 4x to $250 million and client accounts have more than doubled, says Vise.