What is Altruist?
Altruist is a commission-free digital investment platform established in 2018 and headquartered in Culver City, California. The company's core mission is to empower independent financial advisors by providing them with tools to accelerate growth, reduce operational costs, streamline paperwork, and enhance client satisfaction. Altruist's technology is designed to modernize the wealth management experience, making sophisticated investment tools accessible and user-friendly for advisors and their clients alike. The company's focus on a fee-free model aims to disrupt traditional brokerage services and foster greater transparency in financial advisory.
How much funding has Altruist raised?
Altruist has raised a total of $643.5M across 6 funding rounds:
Series A
$8.5M
Series B
$50M
Series D
$112M
Series E
$169M
Series F
$152M
Other Financing Round
$152M
Series A (2019): $8.5M with participation from Venrock
Series B (2021): $50M led by Insight Partners, Vanguard, and Venrock
Series D (2023): $112M supported by Insight Partners and Adams Street Partners
Series E (2024): $169M featuring ICONIQ Growth, Granite Capital Management, Sound Ventures, and Adams Street Partners
Series F (2025): $152M backed by ICONIQ Growth, Salesforce Ventures, Geodesic Capital, and GIC
Other Financing Round (2025): $152M with participation from GIC
Key Investors in Altruist
ICONIQ Growth
ICONIQ Growth partners with exceptional entrepreneurs and leaders who drive global impact and change, focusing on early growth stage companies and leveraging a vibrant ecosystem of founders and business leaders to amplify portfolio company success.
GIC
GIC is a sovereign wealth fund that manages Singapore's foreign reserves, investing across a range of asset classes in both public and private markets to secure the country's financial future.
Salesforce Ventures
Salesforce Ventures is dedicated to empowering enterprising founders in enterprise technology, providing patient capital, mentorship, and access to a robust network to guide companies through growth phases to successful exits.
What's next for Altruist?
With its latest major enterprise-level funding, Altruist is poised for significant scaling and further development of its platform. The substantial capital injection suggests a strategic focus on expanding market reach, enhancing technological capabilities, and potentially exploring new service offerings. This significant backing from prominent investors indicates strong confidence in Altruist's business model and its potential to capture a larger share of the fintech market, particularly within the independent advisor space. Future growth is likely to involve deepening integrations, expanding the advisor network, and solidifying its position as a leader in the digital investment solutions landscape.
See full Altruist company page
