Funding: $77.6 millionKey technologies: Cloud computing, machine learning, software-defined securityEllevest is designed to take into account that women's financial lives unfold differently than men's. This digital investing platform looks at women's longer life spans, different salary arcs and the impact of extended time off from work to have and care for children.
Ellevest uses ETFs for its clients, and there is no minimum deposit to get started. Ellevest Digital charges a 0.25% fee for assets under management and 0% for emergency funds set up by clients. Ellevest Premium has a $50,000 account minimum but offers one-on-one personalized guidance for each client's money goals with a certified financial planner. It also includes career coaching for its Premium clients.
In March the company raised $33 million from investors, including Rethink Impact, PSP Growth, Melinda Gates' Pivotal Ventures and former Obama White House advisor Valerie Jarrett. The new round brings Ellevest's total funding to nearly $78 million and values the company at around $140 million.
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