Tuesday, May 24, 2016

SigFig Scores $33M For Automated Investment Management

San Francisco-based SigFig, a startup developing automated investment portfolio management software, has raised $33M in a funding round, the company said this morning. The funding came from Eaton Vance, Comerica Bank, New York Life, Santander InnoVentures, and UBS, plus Bain Capital Ventures, DCM Ventures, Nyca Partners, and Union Square Ventures. SigFig, led by Mike Sha, provides technology which allows wealth management advisors--including UBS Wealth Management and Pershing Advisors--to completely automate investments for clients. The funding came along with an additional, $7M in a credit facility from Comera, bringing the company's total raised to $70M.