Betterment Gets a $700 Million Valuation on a $100 Million Round

Betterment, founded by Jon Stein (CBS'09), has raised a new $100 million round of equity financing led by Investment AB Kinnevik ($65 million) at a $700 million valuation - a 40% jump from its previous round in early 2015. Complimenting this round at $35 million were previous investors: Bessemer Venture Partners, Anthemis, Francisco Partners and Menlo Ventures.