What is Ellevest?
Ellevest operates as a specialized investment software company that leverages proprietary algorithms and financial research to provide accessible wealth management services. By focusing on the specific economic challenges faced by women—such as the gender pay gap and career breaks—the company has carved out a distinct niche within the broader fintech ecosystem. Its platform integrates financial planning, investment management, and educational resources, positioning it as a comprehensive digital advisor. The firm's market position is bolstered by its commitment to inclusive finance, effectively democratizing access to professional-grade investment tools that were historically underserved in the retail market.
How much funding has Ellevest raised?
Ellevest has raised a total of $141.6M across 6 funding rounds:
Private Equity
$2M
Series A
$10M
Unspecified
$9M
Private Equity
$34.6M
Unspecified
$33M
Series B
$53M
Private Equity (2015): $2M, investors not publicly disclosed
Series A (2015): $10M led by Astia, Morningstar, Andrea Jung, Ajay Banga, and Contour Venture Partners
Unspecified (2016): $9M supported by Khosla Ventures, Ulu Ventures, Morningstar, and Aspect Ventures
Private Equity (2017): $34.6M featuring Contour Venture Partners, Ulu Ventures, Khosla Ventures, Morningstar, Rethink Impact, and CreditEase
Unspecified (2019): $33M backed by Elaine Wynn, Khosla Ventures, Pivotal Ventures, Astia, PayPal, PSP Capital Partners, Ulu Ventures, CreditEase Fintech Investment Fund, Valerie Jarrett, Eric Schmidt, Morningstar, Rethink Impact, Aspect Ventures, and Mastercard
Series B (2022): $53M with participation from Cleo Capital, BMO, New York Venture Capital, Stardust Equity, The Venture Collective, Halogen Ventures, Envestnet, and Contour Venture Partners
Key Investors in Ellevest
Khosla Ventures
Khosla Ventures provides venture assistance and strategic advice to entrepreneurs working on breakthrough technologies, focusing on a broad range of areas including fintech and financial services.
Morningstar
Morningstar is a global provider of independent investment research, data, and technology solutions serving financial advisors, asset managers, and individual investors.
Rethink Impact
Rethink Impact is a venture capital firm that invests in technology platforms and networks focused on creating ecosystems of change, specifically targeting leaders who address significant global challenges.
What's next for Ellevest?
With the successful closure of this major strategic investment, Ellevest is well-positioned to accelerate its product roadmap and expand its market reach. The company is expected to focus on enhancing its AI-driven advisory capabilities and deepening its integration with enterprise-level financial partners. By leveraging the expertise of its diverse investor base, Ellevest aims to scale its operations while maintaining its core mission of fostering financial equality. Future growth will likely involve the expansion of its service offerings to include more robust retirement planning and tax-efficient investment vehicles, ensuring the firm remains at the forefront of the evolving digital wealth management sector.
See full Ellevest company page
