Risk alignment software firm Riskalyze has raised $20m in its first round of outside institutional financing from FTV Capital.
The California company’s software aims to allow financial planners to assign a risk score to their clients and recommend a suitable investment strategy.
The company’s products also include automated platforms for asset management and retirement plans as well as a big data compliance service.
FTV Capital managing partner Brad Bernstein said, “frequent episodes of market volatility since the financial crisis have reinforced the imperative for investment advisors to have a deep understanding of their clients’ risk tolerance.”
Bernstein will join the company as a result of the deal.
Riskalyze currently employs 106 staff and plans to use the capital to grow its teams in product and engineering as it looks to develop and expand its product range.
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