Founded in 2008, Betterment was one of the first online wealth-management services to launch, entering into the industry well before the first fintech nerd uttered the word robo-adviser. In January of 2015, the New York-based company’s assets under management (AUM) totaled $1 billion. Today, a year-and-a-half later, it has burgeoned to more than $5 billion. As Fast Company reported, “That milestone is modest by the standards of wealth-management giants like Fidelity, but a first for an independent robo-adviser like Betterment.” By comparison, Fidelity claimed $2,036 billion AUM at the end of 2015.

To help manage the new growth, the company has brought on Amy Shapero (pictured) as CFO. Shapero brings experience as CFO for CRM company Sailthru and also worked at information-services company Digital Globe and fintech company Spot Trading.

Even though Betterment has no minimum balance requirements, the average account tops $29,000, and the largest amount invested by a single individual is $10 million. According to an article on WealthManagement.com, Betterment CEO Jon Stein anticipates the company will eventually go public but first wants to add new revenue streams by launching more products, such as the turnkey 401(k) service, Betterment for Business, it launched in January.

At FinovateFall 2011, Betterment CEO Jon Stein launched the company’s Multiple Goals feature. Betterment has raised $205 million from 14 investors. After the company’s $100 million Series E round earlier this year, its valuation rose to $700 million.