Participated · Series A · Apr 2020

OpenInvest is a San Francisco, CA-based tech-enabled SMA asset manager that provides infrastructure technology enabling customization, direct indexing, and ESG investing at scale. Its APIs allow relationship managers to deliver factor portfolios, personalization, and tax optimization while maintaining discipline. The company’s Dynamic Custom Indexing (DCI) capabilities replicate strategies by directly purchasing underlying stocks, enabling direct indexing, personalized ESG investing, and enhanced tax efficiency. OpenInvest launched in 2015 and has formed partnerships including Legal & General Investment Management America and Bank of the West, and a commercial partnership with Resolute. The company intends to use the new funds to expand engineering capacity and grow its business reach across wealth and asset management platforms. Since launching, OpenInvest has raised $23.8M in total funding. OpenInvest provides a platform that delivers customized investment portfolios aligned with an individual’s or institution’s values. Users customize portfolios through cause-based investment screens—such as divestment from fossil-fuel producers, deforestation, the prison industrial complex or weapons—and by supporting themes like gender equality, LGBTQ rights, refugees and low-carbon leaders; they can also include or exclude individual companies. Each user’s portfolio auto-rebalances to track market indices, and the platform offers real-time impact reporting, shareholder voting, transparency, tax-loss harvesting and other features. Clients ranging from $100 to tens of millions of dollars in assets, and their advisors, use the platform to instantly launch portfolios that reflect specific environmental and social concerns while tracking any market index or specified investing strategy. Led by co-founders Conor Murray (CEO) and Joshua Levin (chief strategy officer), the company says it will use the new funding to accelerate growth and support continued technological innovation. OpenInvest is based in San Francisco and recently raised $10.4M in Series A financing. OpenInvest operates an accessible online financial advisory platform that lets retail investors select and combine investment screens tied to social and environmental issues to construct personalized portfolios. Its product allows users to include or exclude individual companies, with portfolios auto-rebalancing to maintain diversification and market tracking. Investment screens cited include climate change, fossil fuels, weapons manufacturers, gender equality, LGBTQ workplace treatment, deforestation, tobacco, companies funding the Dakota Access Pipeline, and companies supporting President Trump. The company was incubated in Y Combinator and is organized as a Public Benefit Corporation. OpenInvest is led by CEO Conor Murray and CTO Phillip Wei. The company raised seed funding and plans to use proceeds to accelerate hiring, grow its customer base, and continue product development.