SigFig Raises $40M

What does SigFig do?
SigFig, is an independent wealth management technology company. It is the easiest way of managing your money, by connecting to your accounts and the company will tailor a portfolio based on the customer’s goals. The company delivers reports and guidance to more than 750K investors, tracking more than $300 billion. The company’s brokerage partners are Fidelity, TD Ameritrade, and Charles Schwab. The company offers SigFit Asset Manager, which is the easiest way of managing your money. You can just connect your accounts and tell the company a little about yourself. This will tailor a portfolio based on the customer’s goals and risk tolerance, to keep the customer’s investments diversified and balanced. The company’s automated systems monitors and optimizes investment constantly while lowering the fees. The company’s SigFig Portfolio Tracker providers the customers the info on how the investments compare with the others and with the market, and it gives recommendations on how performance can be improved. All the investments can be tracked in a free, easy to use dashboard through mobile or web. The company’s Diversified Income is an automated investment service which provides a portfolio tailored towards generating income from the customer’s investments.
How much SigFig was funded?
The company raised $7M on May 24, 2016 from Comerica Bank.
Previous funding
• $33M in Series C on May 24, 2016 from Nyca Partners, Bain Capital Ventures, DCM Ventures, UBS, Union Square Ventures, New York Life Insurance Co, Santander InnoVentures and Eaton Vance Corp.
• $15M in Series B on July 2, 2013 from DCM Ventures, Union Square Ventures and Bain Capital Ventures
• $1M in Series B on April 23, 2015 from Nyca Partners

What is next for SigFig?
The company plans on using the latest funding for accelerating its team expansion and tech platform as it scales its enterprise strategy of building investment tech for different financial institutions.
More about SigFig
The company was founded in 2011 by Mike Sha and Parker Conrad. It has its headquarters in San Francisco, CA.