SigFig is a San Francisco-based investment advice service that uses data science and technology to provide guidance to investors across wealth levels. Founded in 2007 and led by CEO Mike Sha, the company offers consumer services via SigFig.com and an Enterprise Digital Wealth Management platform that powers automated investment services for institutions such as Wells Fargo, UBS and Citizens Bank. SigFig’s platform combines data science and technology to deliver the information and guidance investors need to achieve financial goals. The company raised $50M in a Series E funding round and intends to use the proceeds to accelerate investments in technology. The round included both strategic and institutional participants and resulted in a board appointment tied to the lead investor. SigFig develops tech-enabled financial advisory services and a direct asset management platform that includes CRM, client tools, and money management. The company positions itself as a full-service provider to financial services firms rather than an algorithmic robo-advisor like Wealthfront or Betterment. Its primary go-to-market is partnering with large banks and wealth managers to deploy customer-facing tools and engineer better client experiences. Through its direct asset management platform SigFig manages about $100 million, and the company says revenue is calculated based on assets under management. SigFig is pursuing deeper collaborations with major banks — notably a close partnership with UBS to work directly with wealth management advisors — as its growth strategy. CEO Michael Sha frames these institutional partnerships as the best way to get tech-based advisory tools into the hands of end investors. SigFig is a San Francisco-based financial services company that provides a service for people to manage and improve their investments by linking 410(k), IRA, trading, and advisor-managed accounts. The platform gives users a real-time view of their investments and recommends ways to adjust portfolios. Features include a real-time portfolio tracker plus charts and analytics. The company says it will use the $15M funding to continue to scale and improve SigFig and is hiring. SigFig is co-founded by CEO Mike Sha and President Parker Conrad and currently employs 40 people.

Total raised

$105M

Funding rounds

4

Latest round

Series E

Latest activity

Jun 2018