image credit : SigFig

San Francisco based wealth management startup SigFig which makes use of deep data science and technology to provide better and quality investment advice to financial services firms around the globe has raised $50 million in its latest Series E round led by NY based major tech investor General Atlantic and also saw participation from Bain Capital, Union Square Ventures and Eaton Vance Management who are both returning investors amongst others who participated in the round.

With this latest investment, SigFig has raised a total of $117 million since its start in 2007 and counts Zenefits co-founder and former CEO Parker Conrad as a co-founder before his departure in 2012 after a falling out with the other co-founder of the company Mike Sha.

SigFig is making use of this latest investment to accelerate its technology based solutions to provide more in-depth and resourceful advice for wealth advisors, banks and a series of other financial customers.

The company currently counts notable financial firms including Wells Fargo, UBS and Citizens Bank as its customers and is earmarked to grow more and gain more customers through investment in huge talent and development of a suite of new and insightful products to financial services firms and other customers.

SigFig last raised $40 million in a Series D round 2 years ago led by Eaton Vance who also invested in this new round for the capital efficient, scaling and vastly expanding company.

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