Online financial adviser Betterment has raised new funding that values it at around $400 million to $500 million. New York-based Betterment is closing a new $60 million round, the company is set to announce on Thursday. The new round was led by growth equity firm Francisco Partners, with existing investors Anthemis Group, Bessemer Venture Partners, Menlo Ventures and Northwestern Mutual also taking part in the offering.
The company previously raised $32 million in Series C funding in 2014, $10 million in October 2012, and $3 million December 2010. Anthemis Group is a seed investor in Betterment.
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