The funding included participation from existing investors as well as new investor, Caleo Capital. Jemstep’s total funding now stands at $15 million. The company plans to use the additional capital for new hires, broadening distribution, and overall product development.
Jemstep launched its Portfolio Manager in January (and presented the technology at FinovateSpring in San Francisco in May). The company’s solution helps individuals plan for retirement by analyzing current portfolio holdings, recommending an alternative portfolio that improves upon the current portfolio, and providing an Action Plan that lets investors know exactly what to buy, what to sell, and what to hold.
Jemstep Portfolio Manager also helps investors minimize tax exposure, reduce fees, and stay on top of their portfolios via the system’s constant monitoring and user alerts. The company is headquartered in Los Altos, California. Kevin Cimring and Michael Blumenthal serve as Joint CEOs. Simon Roy is Jemstep’s President.