Riskalyze announced on Monday that it has received a $20 million minority growth equity investment from FTV Capital to expand its digital offerings.
This is the company's first outside institutional round of investment, Riskalyze noted in a press release.
"We're excited to expand our impact on the industry and the 240,000 advisors we built Riskalyze to serve," Aaron Klein, CEO at Riskalyze, said in a statement. "We founded Riskalyze on a mission to align the world's investments with each investor's Risk Number, and empower anyone to invest with confidence. We're proud to have a great firm like FTV joining us on that journey."
In addition to the investment, Brad Bernstein, managing partner for FTV Capital, will join the Riskalyze board of directors.
"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 said in the statement. "The regulatory environment, and most recently the DOL fiduciary rule, is providing further tailwinds to the rapidly growing demand for Riskalyze's digital platform."
