What is Interactive Advisor?
Interactive Advisor, formerly known as Covestor, operates as a pioneer in bringing separately managed accounts (SMAs) online through a transparent marketplace. Founded in 2006, the company provides investors with the ability to compare and select from a diverse range of money management talent, including top-performing portfolio managers and successful investors. Its proprietary Portfolio Sync technology automates trade replication, offering clients a convenient 'set and forget' functionality coupled with robust trade filtering protections. The company has established offices in New York City and London, positioning itself as a key player in the fintech and online investment advisory space.
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 Amadeus Capital Partners, Spark Capital, and Union Square Ventures
Private Equity (2010): $3.6M supported by Spark Capital and Union Square Ventures
Private Equity (2011): $4M featuring Amadeus Capital Partners, Union Square Ventures, and Spark Capital
Series B (2013): $13M backed by Amadeus Capital Partners, Union Square Ventures, Spark Capital, and Bay Partners
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. Their investment strategy is centered on identifying opportunities that leverage shifts in numerous industries. Union Square Ventures aims to partner with visionary entrepreneurs to help build the future.
Spark Capital
Spark Capital, founded in 2001 and headquartered in Chennai, India, is a full-service investment banking company.
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.
What's next for Interactive Advisor?
The recent major strategic investment into Interactive Advisor signals a phase of accelerated scaling and market expansion. With a history of consistent capital raises, including Series A, Private Equity, Series B, and earlier seed funding, the company has demonstrated a clear growth path. This latest financing is expected to fuel further development of its innovative platform, enhance its market reach, and potentially explore new strategic partnerships. The company's focus on transparency and automated trading aligns with evolving investor demands for efficiency and control in wealth management.
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