Funding will accelerate AI technology adoption among independent advisors
Vise, an AI-driven investment management platform built for the modern financial advisor, announced that it has secured $14.5 million in Series A funding, bringing the total capital raised since Vise’s founding to over $16 million. The round was led by Sequoia Capital with participation from previous investors Founders Fund, Bling Capital, Human Capital, Lachy Groom, Steve Chen, co-founder of YouTube and Jon Xu, co-founder of FutureAdvisor.
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“Our platform uses AI to build customized portfolios for every client, which saves advisors time and enables them to focus on their superpowers: managing clients and growing their businesses,” said Samir Vasavada, co-founder and CEO of Vise. “Human relationships run the advisory industry, so rather than seeking to replace advisors, Vise harnesses AI to make them even better at their jobs.”
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Founded just over three years ago, Vise has assembled a team of Ph.D. researchers and industry veterans from Morgan Stanley, Merrill Lynch, Bloomberg, Google and Palantir. Vise is already available on the Charles Schwab and TD Ameritrade Institutional platforms, representing over $800M in AUM amongst client commitments. Vise will use the funding to accelerate the growth of advisor partnerships and product development.
“The registered investment advisor (RIA) landscape is increasingly fragmented as advisors break away from large financial institutions to become independent, and we built Vise to support this new generation of advisor-entrepreneurs,” said Runik Mehrotra, co-founder and Chief Investment Officer of Vise. “In the same way Shopify enabled artisans to compete against Amazon, or how Airbnb allowed homeowners to launch their own businesses, Vise is giving independent advisers the tools they need to succeed.”
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