OpenInvest Raises $3.25m in Seed Funding
OpenInvest, a San Francisco, CA-based social impact investing platform for retail investors, raised $3.25m in seed funding.
The round was led by Andreessen Horowitz with participation from Abstract Ventures, Wireframe Ventures and SV2.
The company plans to use the funds to accelerate hiring and customer growth and continue to develop the product.
Led by Conor Murray, chief executive officer, and CTO, Phillip Wei, OpenInvest is an accessible online financial advisor that enables investors to align their investments with their values, and then take action to engage companies and drive social change.
The company’s investment screens include climate change, fossil fuels, weapons manufacturers, gender equality, LGBTQ workplace treatment, deforestation, tobacco, companies funding the Dakota Access Pipeline, and companies supporting President Trump, which can be freely mixed and matched to construct a personalized portfolio. Investors can further customize by including or excluding individual companies, while their portfolio auto-rebalances to maintain diversification and broad tracking of the market.
OpenInvest is a Public Benefit Corporation incubated in Y Combinator.