# Grove Advisors

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/grove-advisors

- Industry: Financial Services
- Headquarters: San Francisco, US
- Website: www.hellogrove.com
- Total disclosed funding: $10M
- Latest round: Series A (May 7, 2018)
- Investors on record: 12

## About

Grove Advisors LLC provides accessible online financial advice, aimed at empowering individuals with personalized financial guidance. Their platform focuses on optimizing financial planning for clients seeking affordable solutions.Grove Advisors LLC, founded in 2015 and headquartered in San Francisco, US, specializes in online financial advisory services. The company raised a total of USD 8.00 mn in its Series A funding round, led by Defy Ventures, with involvement from Bullish Partners, Tusk Venture Partners, and Winklevoss Capital. Grove has completed three deals, with the most recent deal occurring on August 22, 2019, when it was acquired by Wealthfront Inc. The founder's history and prior ventures are not disclosed.Grove primarily offers online financial advice focused on making financial planning accessible and affordable. Their services include personalized financial guidance, targeting young professionals, families, and individuals seeking straightforward financial advice. The platform addresses common financial challenges, including retirement planning and investment strategies, through technology and automation, primarily serving clients in the United States.Grove's revenue model is based on subscription services that provide users with tailored financial advice for a recurring fee. This direct-to-consumer approach allows clients to engage with the platform for ongoing financial support. Specific pricing details are undisclosed, but the emphasis on affordability suggests a competitive pricing strategy. As Grove aligns with Wealthfront and shifts towards technology-driven solutions, it is expected to explore additional revenue streams related to their Self-Driving Money™ initiative.Looking ahead, Grove Advisors LLC plans to leverage its recent funding to enhance its offerings and expand its market presence. While specific upcoming products and release dates are not detailed, the company is expected to focus on developing its technology-driven financial solutions. Following the acquisition by Wealthfront in August 2019, Grove will likely target new geographic regions for expansion, although specific markets have not been disclosed.

## Funding rounds

- Series A, May 7, 2018, $8M — Winklevoss Capital, Tusk Venture Partners, Bullish Partners, Defy Ventures
- Seed, Feb 9, 2018, $2.1M — First Round Capital, Financial Health Network, Compound Ventures, SV Angel, Lowercase Capital, BoxGroup, Fuel Capital, Upside Partnership

## Investors

- First Round Capital (https://capitalatlas.ai/funds/first-round-capital) — Seed
- Financial Health Network (https://capitalatlas.ai/funds/financial-health-network) — Seed
- Compound Ventures (https://capitalatlas.ai/funds/compound-ventures) — Seed
- SV Angel (https://capitalatlas.ai/funds/sv-angel) — Seed
- Lowercase Capital (https://capitalatlas.ai/funds/lowercase-capital) — Seed
- BoxGroup (https://capitalatlas.ai/funds/boxgroup) — Seed
- Fuel Capital — Seed
- Upside Partnership (https://capitalatlas.ai/funds/upside-partnership) — Seed
- Winklevoss Capital (https://capitalatlas.ai/funds/winklevoss-capital) — Series A
- Tusk Venture Partners (https://capitalatlas.ai/funds/tusk-venture-partners) — Series A
- Bullish Partners (https://capitalatlas.ai/funds/bullish-partners) — Series A
- Defy Ventures — Series A