AI-Based Platform Vise Raises $14.5M in Series A Funding Round

Vise leverages artificial intelligence to build and manage customized portfolios on behalf of a licensed financial advisor.

Vise, which automates portfolio management using AI and machine learning, has secured $14.5 million in a Series A funding round led by Sequoia Capital with participation from previous investors Founders Fund, Bling Capital, Human Capital and Lachy Groom.‎ The company has raised from backers a total of $16 million in venture funding to date.

The SEC-registered investment advisor has also amassed a roster of notable investors, including YouTube co-founder Steve Chen and FutureAdvisor co-founder Jon Xu, as it says its offering is well-aligned with ‎their overall strategy of growing its wealth and asset management solutions in the ‎long run.

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Vise leverages artificial intelligence to build and manage customized portfolios on behalf of a licensed financial advisor. The platform analyzes clients’ investment needs and builds them a personalized portfolio of stocks, bonds and other assets, then provides investment manager tools to automate management.

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Founded just over three years ago, the business has also been approved as a subadvisor by Charles Schwab and TD Ameritrade, which have thousands of independent RIAs on their platforms. It currently represents over $800 million in AUM amongst client commitments.

Fresh capital to fuel expansion

“Our platform uses AI to build customized portfolios for every client, which saves advisors time and enables them to focus on their superpowers: managing clients and growing their businesses. Human relationships run the advisory industry, so rather than seeking to replace advisors, Vise harnesses AI to make them even better at their jobs,” said Samir Vasavada, co-founder and CEO of Vise.

Proceeds will help the company aggressively expand its sales and ‎marketing efforts as well as broaden and accelerate product ‎development. Vise expects to expand their reach as asset and wealth management firms continue to explore potential AI solutions for improving their investment decisions, and making use of their troves of historical data.

“The RIA space is increasingly fragmented as advisors break away from large financial institutions to become independent, and we built Vise to support this new generation of advisor-entrepreneurs. In the same way Shopify enabled artisans to compete against Amazon, or how Airbnb allowed homeowners to launch their own businesses, Vise is giving independent advisers the tools they need to succeed,” said Runik Mehrotra, co-founder and Chief Investment Officer of Vise.

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