What is Ellevest?
Headquartered in New York City and established in 2014, Ellevest operates as a specialized investment software platform. The company is fundamentally dedicated to closing the gender investing gap by providing tailored financial planning services and investment tools specifically designed for women. By integrating sophisticated algorithmic advice with a user-centric interface, Ellevest addresses the unique financial challenges and life-cycle needs of its demographic, effectively carving out a distinct niche in the broader wealth management market.
The company's market position is bolstered by its commitment to financial literacy and accessible wealth-building strategies. Unlike traditional brokerage models, Ellevest leverages data-driven insights to provide personalized portfolios that account for gender-specific wage gaps and career longevity, positioning itself as both a social impact enterprise and a scalable fintech solution.
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 Ajay Banga, Astia, Morningstar, Contour Venture Partners, and Andrea Jung
Unspecified (2016): $9M supported by Ulu Ventures, Aspect Ventures, Morningstar, and Khosla Ventures
Private Equity (2017): $34.6M featuring Khosla Ventures, Ulu Ventures, Contour Venture Partners, Morningstar, CreditEase, and Rethink Impact
Unspecified (2019): $33M backed by Aspect Ventures, Mastercard, PSP Capital Partners, PayPal, CreditEase Fintech Investment Fund, Morningstar, Eric Schmidt, Ulu Ventures, Elaine Wynn, Astia, Valerie Jarrett, Pivotal Ventures, Khosla Ventures, and Rethink Impact
Series B (2022): $53M with participation from Stardust Equity, Envestnet, The Venture Collective, Cleo Capital, BMO, Contour Venture Partners, New York Venture Capital, and Halogen Ventures
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.
Contour Venture Partners
Contour Venture Partners is a seed stage venture capital firm that focuses on investing in innovative software solutions within the enterprise SaaS and financial services sectors.
What's next for Ellevest?
With the recent $53M secured, Ellevest is well-positioned to accelerate its product development and expand its market reach. The company is expected to focus on enhancing its enterprise-level software capabilities, potentially integrating more advanced AI-driven financial planning tools to improve user outcomes. As the firm moves deeper into its growth phase, the strategic focus will likely shift toward deepening its ecosystem of financial services, potentially exploring new partnerships with institutional players to broaden its distribution channels.
The continued support from established venture capital firms suggests a long-term commitment to the company's vision of democratizing financial health. Future initiatives will likely prioritize the scaling of its platform to accommodate a larger user base while maintaining the high-touch, personalized service that has become a hallmark of the Ellevest brand.
