Welcome!

News Feed Item

Upside Raises $1.1M to Help Investment Advisors Compete Against "Robo-Advisors"

SAN FRANCISCO, CA -- (Marketwired) -- 07/17/14 -- Upside, a technology company providing an automated managed account platform to investment advisors, announced today that it has raised a total of $1.1 million from Cultivation Capital, SixThirty and angel investors, including Suranga Chandratillake (General Partner at Balderton Capital), Elaine Wherry (co-founder at Meebo, acquired by Google), Bruno Bowden (Equity Partner at Data Collective), Sean Kell (CEO of A Place For Mom, a Warburg Pincus company), and others.

The company will use the funds to further invest in its technology platform, which gives investment advisors a fully-automated, white-labeled solution to manage emerging affluent clients more cost-effectively. Upside will also accelerate sales and marketing efforts that have already resulted in rapid growth and adoption among young investment advisors with $100-300M in total assets.

"We already have a number of advisors and investors using the platform, so we're excited about continuing to improve our technology based on the feedback we're getting," said Tom Kimberly, co-founder and CEO of Upside. "We're really confident about the direction Upside is headed in. We've gotten a clear message from independent investment advisors that our technology can not only help them manage emerging affluent clients better -- but it can also help them meet the expectations of a new generation of investors. Many advisors know that the digital generation wants something different -- and they know that the robo-advisors like Wealthfront and Betterment are here to stay. Upside is their answer to that challenge."

"Upside is entering the market during a crucial time for financial advisors," added Juney Ham, co-founder and President of Upside. "Investment managers are becoming increasingly concerned with the rise of 'robo-advisors' and are searching for ways to compete with these new entrants. Our funding will allow us to capitalize on this opportunity by increasing our sales and marketing efforts, expanding our operations capabilities and developing transformative new features to help our advisors differentiate their offering. By arming advisors with the tools they need to more effectively serve their clients -- who are increasingly expecting modern, digital solutions -- they can focus on higher-value opportunities while also benefiting from technology."

The company also announced a partnership with Shareholders Service Group (SSG), a Broker/Dealer based in San Diego, California that provides brokerage services to over 1,200 independent investment advisors across the country.

"The time is right to provide financial solutions that make sense for the emerging class of young, tech-savvy investors," said Cliff Holekamp, General Partner at Cultivation Capital. "The addition of multiple new advisory firms on their white-label platform and a partnership agreement with Shareholder Service Group proves Upside's business model and provides solid indication of their impact in the financial industry. The Upside team is ready to focus on leveraging these new connections to continually improve client relationships and manage investments more cost-effectively for investment advisors. Cultivation Capital is ready to support Upside with the capital needed to drive their exciting growth."

With Cultivation Capital's most recent investment, Holekamp will join Upside's Board of Directors.

Upside was part of the inaugural class at SixThirty, a financial technology accelerator by Jim McKelvey, a co-founder at Square. Upside currently has offices in San Francisco, California and Saint Louis, Missouri.

About Upside

Upside helps registered investment advisors beat the "robo-advisors" by leveraging technology and algorithms to advise, manage, and service clients who want next-generation investment services. The company's fully-automated, white-labeled managed account platform provides advisors with paperless account opening, portfolio selection, automated trading and rebalancing, client and advisor portals, and practice analytics in an intuitive, design-led user interface. For more information, contact Upside at [email protected] or visit www.upsideadvisor.com.

Contact:
Juney Ham
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, will discuss recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model f...
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Technology vendors and analysts are eager to paint a rosy picture of how wonderful IoT is and why your deployment will be great with the use of their products and services. While it is easy to showcase successful IoT solutions, identifying IoT systems that missed the mark or failed can often provide more in the way of key lessons learned. In his session at @ThingsExpo, Peter Vanderminden, Principal Industry Analyst for IoT & Digital Supply Chain to Flatiron Strategies, will focus on how IoT de...
Digitization is driving a fundamental change in society that is transforming the way businesses work with their customers, their supply chains and their people. Digital transformation leverages DevOps best practices, such as Agile Parallel Development, Continuous Delivery and Agile Operations to capitalize on opportunities and create competitive differentiation in the application economy. However, information security has been notably absent from the DevOps movement. Speed doesn’t have to negat...
Your business relies on your applications and your employees to stay in business. Whether you develop apps or manage business critical apps that help fuel your business, what happens when users experience sluggish performance? You and all technical teams across the organization – application, network, operations, among others, as well as, those outside the organization, like ISPs and third-party providers – are called in to solve the problem.
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Most of us already know that adopting new cloud applications can boost a business’s productivity by enabling organizations to be more agile and ready to change course in our fast-moving and connected digital world. But the rapid adoption of cloud apps and services also brings with it profound security threats, including visibility and control challenges that aren’t present in traditional on-premises environments. At the same time, the cloud – because of its interconnected, flexible and adaptable...
SYS-CON Events announced today that Roundee / LinearHub will exhibit at the WebRTC Summit at @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LinearHub provides Roundee Service, a smart platform for enterprise video conferencing with enhanced features such as automatic recording and transcription service. Slack users can integrate Roundee to their team via Slack’s App Directory, and '/roundee' command lets your video conference ...
Digital transformation is too big and important for our future success to not understand the rules that apply to it. The first three rules for winning in this age of hyper-digital transformation are: Advantages in speed, analytics and operational tempos must be captured by implementing an optimized information logistics system (OILS) Real-time operational tempos (IT, people and business processes) must be achieved Businesses that can "analyze data and act and with speed" will dominate those t...
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
SYS-CON Events announced today that Secure Channels will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The bedrock of Secure Channels Technology is a uniquely modified and enhanced process based on superencipherment. Superencipherment is the process of encrypting an already encrypted message one or more times, either using the same or a different algorithm.
While DevOps promises a better and tighter integration among an organization’s development and operation teams and transforms an application life cycle into a continual deployment, Chef and Azure together provides a speedy, cost-effective and highly scalable vehicle for realizing the business values of this transformation. In his session at @DevOpsSummit at 19th Cloud Expo, Yung Chou, a Technology Evangelist at Microsoft, will present a unique opportunity to witness how Chef and Azure work tog...