Digital Investment Advisor OpenInvest Secures $10.4 Million
OpenInvest, one of the first digital investment advisors for socially responsible investing, raised $10.4 million in a Series A funding round ed by QED Investors, with additional participation from Andreessen Horowitz (who led OpenInvest’s previous venture round in 2017), SYSTEMIQ, Wireframe Ventures, Yard Ventures, and Abstract Ventures.
OpenInvest’s platform is designed to deliver customized investment portfolios aligned with an individual’s or institution’s values. According to the company, clients ranging from only $100 to tens of millions of dollars in assets—and their advisors—use OpenInvest to instantly launch portfolios that reflect particular environmental and social concerns, while tracking any market index or specified investing strategy. Clients also have access to real-time impact reporting, voting in shareholder resolutions with a swipe, full transparency, and tax-loss harvesting.