An all in one Artificial Intelligence powered investment management platform Vise that provides independent advisory solutions for building and managing portfolio announced securing US$ 45 million investment in a Series B funding round on 15th December 2020.
This Series B round was led by global venture capital Sequoia Capital and included participation from the Founders Fund, Greenoaks Capital and Allen & Company. The co-founder of Creative Artists Agency, Michael Ovitz and the CEO of Palo Alto Networks, Nikesh Arora also participated in the round and both will be joining the company as advisors. Vise intends to use this freshly raised funding to continue building and enhancing their product, its functionalities and growing their team for the best provision of services. Ravi Gupta from Sequoia Capital will be joining the board of the company; this will make him the second member on Vise’s board from the venture capital after Shaun Maguire.
Vise provides an AI driven research platform that aims at revolutionizing the way investments are managed by financial advisors. By harnessing the power of artificial intelligence and data from several financial providers it creates tailored portfolios for the clients of investment advisors. The human advisors can then help in personalizing it on the next level.
The CEO and co-founder of Vise said, “At Vise we empower the financial advisers with the right tools and technology they never had not, just not to be more effective but also to be more efficient resources for their clients. Our investors have seen the vision of Vise and believe the same. The team and we all are so honored to have Shuan and Ravi both on our board”
The company has experienced good growth since it announced its Series A funding in May this year. The company has quadrupled its customer base and has signed some notable firms as their clients like Barber Financial Group, Hexagon Capital Partners and Aurelian Capital Partners. The overall revenue of the company has grown by 50% a month since then.
The enterprise games its revenue by applying a 0.5% charge on the assets which are run over its platform.
About Vise
The investment portfolio management platform Vise is built for the modern financial advisors and uses the power of AI for helping them create the perfect portfolios. The company was founded in 2016 by Rubik Mehrotra and Samir Vasavada and is headquartered in New York. They automate the investment management process, provide insights of each decision made and create a highly customized portfolio.
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