NEW YORK, Feb. 16, 2021 (GLOBE NEWSWIRE) -- Titan, the New York-based technology company building the operating system for active investment management to rival giants Fidelity and BlackRock, announced today that it has raised a $12.5 million Series A funding round led by General Catalyst, bringing its total funding to $16 million. Participating investors included Ashton Kutcher and Guy Oseary's Sound Ventures, Scribble VC, BoxGroup, Y Combinator, South Park Commons, Instagram founder Mike Krieger, Lee Fixel, Kevin Hartz, Josh Reeves, and others. With this round of funding, General Catalyst’s Katherine Boyle will take a board seat with the company.
Titan grew by 600% last year and is now approaching $500M in assets under management, on effectively no marketing budget. The latest round of funding will allow Titan to scale its engineering and investment team along with making significant investments in product, marketing, and operations. Titan, right now an equity-focused platform, also plans to launch several investment products across asset classes.
“While technology has penetrated several sectors of consumer finance, a trusted investment management platform for coming generations has yet to emerge,” said Joe Percoco, founder and co-CEO of Titan. “We are building Titan to be exactly that: the operating system that will provide everyday investors access to the types of investment products and experiences that they’ve historically been locked out of.”
Bolstered by growing economic influence and a nearly wholesale shift away from “defined benefit” plans like pensions towards diversified, personalized investment strategies, today’s investors are seeking new ways to put their money to work. As financially-savvy consumers, they are especially drawn to mobile-first, open-access investment platforms.
“For too long, millennials, like previous generations, have been encouraged to adopt a set-it-and-forget-it approach to investing,” said Katherine Boyle, partner at General Catalyst. “Yet this is the most personal finance-educated generation in history. They care deeply about both performance and transparency. Titan’s approach is to meet those demands in a way that many other major investing platforms just can’t."
Titan, available at https://www.titanvest.com, offers an elite capital management platform for both accredited and unaccredited investors, all inside their mobile app. The company continues to provide access to services on its platform that would historically require a $1 million minimum, such as direct portfolio manager access. Users can become a Titan client in minutes. Titan won Benzinga’s Advisor of the Year in 2020, has been featured by Apple, and won Robo Report’s top performer four times in a row (ranking #1 out of 60+ advisors).
"Most asset management products remain in the Stone Age, offering 90-page prospectuses and black-box client experiences. We’re excited to unlock the creme de la creme of Wall Street that’s historically been out of reach to everyday investors," said Clay Gardner, Co-CEO at Titan.
About Titan
Titan's mission is to improve the compound growth rate of everyday investors. Based in SoHo, New York, the company is building the operating system for investment management, aiming to rival the likes of Fidelity and BlackRock for a new generation of investors. Check us out at https://www.titanvest.com. Titan is looking for talented people to join our rapidly growing team. For more info, visit https://www.titanvest.com/careers.
About General Catalyst
General Catalyst is a venture capital firm that invests in powerful, positive change that endures — for our entrepreneurs, our investors, our people, and society. We support founders with a long-term view who challenge the status quo, partnering with them from seed to growth stage and beyond to build companies that withstand the test of time. With offices in San Francisco, Palo Alto, New York City, and Boston, the firm has helped support the growth of businesses such as: Airbnb, Deliveroo, Guild, Gusto, Hubspot, Illumio, Livongo, Oscar, Samsara, Snap, Stripe, and Warby Parker. For more: www.generalcatalyst.com.
Contact
Titan
press@titanvest.com
General Catalyst
rscott@generalcatalyst.com