Betterment

Betterment is an automated investment and financial planning platform founded in 2008 by Jon Stein and Eli Broverman and headquartered in New York, NY. The company operates as both a registered investment adviser and a broker-dealer, offering retail customers access to diversified ETF-based portfolios managed algorithmically based on individual goals and risk tolerance.

Betterment's core products include taxable investment accounts, traditional and Roth IRAs, 401(k) rollovers, and a high-yield cash reserve account. The platform also offers Betterment for Business, a 401(k) product for employers. Key features include automatic rebalancing, tax-loss harvesting, and goal-based savings buckets. The company competes directly with Wealthfront and Vanguard Digital Advisor in the robo-advisory segment.

Betterment has raised approximately $435 million in total funding across multiple rounds, with investors including Bessemer Venture Partners, Francisco Partners, and Kinnevik. Jon Stein stepped down as CEO in 2020 and was succeeded by Sarah Levy, formerly of Viacom. The company manages tens of billions of dollars in assets under management and has expanded its offerings through the acquisition of Gradvisor, a workplace financial wellness platform, in 2022.