# Envestnet

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/envestnet

- Industry: Software
- Headquarters: Berwyn, US
- Website: www.envestnet.com/
- Total disclosed funding: $16M
- Latest round: Series C (Sep 30, 2008)
- Investors on record: 2

## About

Based in the US, Envestnet, Inc. is a holding company that delivers technology solutions to enhance financial wellness for financial advisors and institutions.Founded in 1999 and headquartered in Berwyn, US, Envestnet, Inc. provides technology solutions for the financial advice industry. The company underwent a significant transition during its latest funding round, shifting from Public to Private with a total raise of USD 4,500 mn. The firm had 9 total deals with prominent investors including Bain Capital and BlackRock. Founders Janet Kreindel and Jonas Bohlin have been instrumental in shaping its strategic direction, with Kreindel also serving as CEO.Envestnet offers a comprehensive range of technology solutions aimed at improving financial wellness within the advice industry. Its services include a Wealth Management Platform, Financial Planning tools, Wealth Solutions, and Data Solutions, specifically designed to support Registered Investment Advisors (RIAs) and financial institutions in North America, Europe, and parts of Asia-Pacific. The Wealth Management Platform streamlines administrative tasks and client management for financial advisors, while Financial Planning tools provide customized strategies for clients. Wealth Solutions encompass diverse investment options for asset managers, and Data Solutions optimize data utilization for investment decisions.In the most recent fiscal year of 2023, Envestnet generated revenue of USD 1,245.62 mn, with an EBITDA of USD -74.18 mn. The company's revenue model is largely subscription-based, enabling financial professionals and institutions to access its suite of services, including the Wealth Management Platform and MoneyGuide financial planning software, through annual subscriptions that may offer tiered pricing based on client engagement levels.Envestnet is focused on developing new financial technology products aimed at enhancing its service offerings and client experience. The company plans to expand its market presence in Europe and Asia-Pacific by 2025, leveraging its recent funding to support these initiatives. The latest funding round, which raised USD 4,500 mn, will be utilized to drive innovation in product development and geographical expansion, following the exit of all prior investors from their stake in Envestnet, Inc.

## Funding rounds

- Series C, Sep 30, 2008, $9M — Upfront
- Series B, Aug 22, 2005, $7.1M — Keystone Capital

## Investors

- Keystone Capital (https://capitalatlas.ai/funds/keystone-capital) — Series B
- Upfront (https://capitalatlas.ai/funds/upfront) — Series C