New York-based AI-driven investment management platform Vise has closed a $45m Series B fundraising led by venture capital firm Sequoia Capital.

Sequoia was joined by Allen & Company, Founders Fund, and Greenoaks Capital.

Palo Alto Networks CEO Nikesh Arora and Michael Ovitz also participated in the fundraising, and assumed the role of advisers.

With the infusion, Vise intends to continue the development of its product offering and expand headcount.

Commenting on the development, Vise co-founder and CIO Runik Mehrotra said: “We look forward to using this funding to accelerate our work at Vise as we move towards becoming the central nervous system of the wealth management industry.”

As part of the deal, Sequoia partner Ravi Gupta secured a seat on the Vise board.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

He is the second from the venture capital company, after Shaun Maguire, to join the Vise board.

Vise was officially launched last November by Samir Vasavada and Mehrotra.

The firm leverages AI-powered automation to support the complete lifecycle of the adviser-client relationship.

Vise raised $14.5m in a Series A funding round led by Sequoia Capital this May.

Since the announcement of the round, the company is said to have quadrupled its number of clients and added firms including Aurelien Capital Partners, Barber Financial Group, as well as Hexagon Capital Partners to its client list.

The company aims to increase staff strength to 100 in the first half of next year.

Gupta noted: “Vise is revolutionising the wealth management industry by enabling financial advisers with sophisticated technology.

“Samir and Runik are visionary founders who continue to demonstrate an unparalleled understanding of the financial services space and an exceptional ability to solve for the modern adviser’s needs.”