What is Interactive Advisor?
Interactive Advisor, formerly known as Covestor, operates as a pioneer in bringing the efficiency and transparency of an online marketplace to money management. The platform allows investors to compare and select from a curated marketplace of money management talent, including top-performing portfolio managers and successful investors. Covestor's proprietary Portfolio Sync technology automates trade replication, offering clients a convenient 'set and forget' functionality while ensuring the security of their investments through advanced trade filtering. The company is recognized for its innovation in bringing separately managed accounts (SMAs) online within a transparent marketplace structure. Founded in 2006, Interactive Advisor has established offices in New York City and London.
How much funding has Interactive Advisor raised?
Interactive Advisor has raised a total of $28.1M across 5 funding rounds:
Angel/Seed
$1M
Series A
$6.5M
Private Equity
$3.6M
Private Equity
$4M
Series B
$13M
Angel/Seed (2007): $1M, investors not publicly disclosed
Series A (2008): $6.5M led by Union Square Ventures, Amadeus Capital Partners, and Spark Capital
Private Equity (2010): $3.6M supported by Union Square Ventures and Spark Capital
Private Equity (2011): $4M featuring Spark Capital, Union Square Ventures, and Amadeus Capital Partners
Series B (2013): $13M backed by Union Square Ventures, Amadeus Capital Partners, Bay Partners, and Spark Capital
Key Investors in Interactive Advisor
Union Square Ventures
Union Square Ventures is a New York City-based venture capital firm that invests in transformative markets influenced by technological and societal changes. The firm targets a variety of sectors, focusing on innovative companies poised for growth.
Amadeus Capital Partners
Amadeus Capital Partners is a Londonbased global technology venture capital firm that invests in highgrowth companies from seed to later stages across sectors such as artificial intelligence, digital health, cybersecurity, enterprise software, fintech, and deep tech.
Bay Partners
Bay Partners is a venture capital firm with extensive experience in Silicon Valley, focusing on guiding companies towards successful liquidity events through M&A and IPO transactions since 1976.
What's next for Interactive Advisor?
The substantial enterprise-level funding and major strategic investment received by Interactive Advisor indicate a strong market validation and provide the necessary capital for scaling operations, expanding market reach, and further developing its innovative platform. With a history of backing from prominent venture capital firms, the company is well-positioned to leverage this latest financing to enhance its competitive edge in the fintech and online investment advisory sector. Future strategic moves will likely focus on solidifying its position as a leader in transparent online money management and potentially exploring new service offerings or market segments.
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