What is Ellevest?
Established in 2014 and headquartered in New York City, Ellevest operates as an investment software company. Its core mission is to address and mitigate the gender investing gap by offering a financial planning platform specifically designed to meet the needs of women. The company's approach integrates financial planning services with investment management, aiming to provide accessible and tailored solutions for its target demographic. This strategic focus positions Ellevest as a key player in the evolving landscape of personalized financial technology.
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, Contour Venture Partners, Ajay Banga, Morningstar, and Andrea Jung
Unspecified (2016): $9M supported by Khosla Ventures, Morningstar, Ulu Ventures, and Aspect Ventures
Private Equity (2017): $34.6M featuring Morningstar, Ulu Ventures, Contour Venture Partners, Khosla Ventures, CreditEase, and Rethink Impact
Unspecified (2019): $33M backed by Valerie Jarrett, Mastercard, Khosla Ventures, Pivotal Ventures, Rethink Impact, Eric Schmidt, Morningstar, Astia, PayPal, PSP Capital Partners, Ulu Ventures, CreditEase Fintech Investment Fund, Aspect Ventures, and Elaine Wynn
Series B (2022): $53M with participation from Cleo Capital, Contour Venture Partners, Envestnet, BMO, Stardust Equity, New York Venture Capital, The Venture Collective, and Halogen Ventures
Key Investors in Ellevest
Rethink Impact
Rethink Impact is a venture capital firm that invests in entrepreneurs and technology platforms focused on creating ecosystems of change, targeting leaders who utilize technology to address significant global challenges across various sectors. They believe that successful companies will prioritize their mission to benefit all communities.
Khosla Ventures
Khosla Ventures provides venture assistance and strategic advice to entrepreneurs working on breakthrough technologies, focusing on a broad range of areas including consumer, enterprise, AI, fintech and financial services, semiconductors, health, agriculture/food, sustainable energy, and robotics.
Morningstar
Morningstar, Inc. is a global provider of independent investment research, data, and technology solutions serving financial advisors, asset managers, retirement plan providers, and individual investors. They offer investment data, research, software platforms, indexes, and managed portfolio solutions.
What's next for Ellevest?
The substantial enterprise-level investment in Ellevest signals a strong market confidence in its business model and its potential for continued growth and expansion. This capital infusion is expected to fuel further development of its platform, enhance its service offerings, and broaden its market reach. As Ellevest continues to scale, its strategic focus on empowering women through financial planning and investment is likely to drive further innovation and solidify its position as a leader in the FinTech industry, particularly within the growing segment of impact-driven financial services.
See full Ellevest company page
