Thursday, April 13, 2023

Altruist Raises $112M

Los Angeles-based Altruist, which develops software for registered investment advisors (RIA), has raised $112M in a Series D funding, the company said on Wednesday. The funding was led by Insight Partners, and also included Adam Street Partners, along with existing investors Declaration Partners, Venrock, and Vanguard. The company also said industry angels Bill McNabb, Ron Carson, and Marty Bicknell also participated in the round. The company has now raised more than $290M in total. Altruist is developing software which helps registered investment advisors manage and work with their clients, automating many paper-based processes.

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