Ellevest, the US-based creator of an investment platform for women, completed a $34.6m funding round on Monday that included subsidiaries of enterprise software producer Salesforce and online lender CreditEase.
Salesforce Ventures and CreditEase Fintech Investment Fund were joined by Rethink Impact, which led the round, PSP Growth, LH Holdings, SK Impact Fund, Morningstar, Khosla Ventures, Ulu Ventures, Contour Venture Partners, Astia Angels and angel investor Mellody Hobson.
Ellevest has created an online financial planning platform aimed at women which focuses on a practical, goals-based approach to finances. It uses a robo advisor which provides specific recommendations concerning each of a user’s goals.
Sallie Krawcheck, co-founder and CEO of Ellevest, said: “We will use this new funding to build on the momentum in our digital offering, and develop solutions with women in our community who are asking us for human interaction and financial planning services.”
The company’s first such service is a tool called Ellevest Ascent, which adds human financial planners who can help users build a tailored action plan that will help them save money on fees, taxes and healthcare.
Ellevest had previously raised $10m in a 2015 series A round led by Morningstar that included angel investors Mohamed El-Erian, Ajay Banga and Robert Druskin, while Khosla, Ulu, Contour, Astia Angels and Mellody Hobson were also identified as returning investors.