Thursday, April 3, 2014

Science Inc. Re-Ups On Wealthfront

Los Angeles-based startup studio, incubator, and investor Science, which is led by former MySpace CEO Mike Jones, is part of a new funding round for automated investment service Wealthfront, the company has confirmed. Science--which has been an investor in Wealthfront since March of last year--participated in a $35M funding round announced by Wealthfront on Wednesday. The funding's other investors include Index Ventures, Ribbit Capital, The Social+Capital Partnership, Greylock Partners, and DAG Ventures. Palo Alto-based Wealthfront has developed an automated investment management service, which uses algorithms to automatically trade index funds and helps rebalance portfolios for users. The company said its focus it to help mainstream investors gain access to the same kind of tools that were previously only available to wealthy individuals. More information »

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