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FutureAdvisor Raises $5 Million, Launches 401(k) Fee Analyzer Tool

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Online investment advisor, FutureAdvisor, announced today that it has raised $5 million to add to its Series A funding.

The round, which comes after raising an undisclosed amount in March, is from existing investors:

    • Sequoia Capital
    • Square COO, Keith Rabois
    • Yelp founder, Jeremy Stoppelman

The Seattle-based startup also announced it added a new 401(k) fee analyzer tool to its platform, which launched in May, to help users save on fees associated with their 401(k). TechCrunch reports:

“It visualizes the amount of money paid out to mutual fund providers who manage various funds, and makes suggestions for other, similar investments that don’t carry the same fees. The new tool is available at”

To learn more about FutureAdvisor, watch its FinovateSpring 2012 demo.