Vise is in a few different industries. They are a B2B SaaS product that sells to financial advisors. Their main benefit is that they use AI to power the recommendations that the financial advisors give to their clients. Historically financial advisors give recommendations to their clients using predetermined allocations or investment advisors.
This space is very interesting right now because AI-based financial advisors are becoming more popular. The two largest Wealthfront and Betterment have a current valuation of $500 and $700M, respectively. The difference with Vise is they are targeting financial advisors whereas the two other advisors are targeting direct consumers (Betterment does have an advisor platform). This is an interesting space because
1. The amount of advisors is growing year over year.
This market could continue to grow.
Ninety-three percent of breakaway brokers believe that independence offers them as much, if not more, income than their previous firm, according to the TD survey.
2. The current roboadvisors are perfect for smaller asset markets but advisors are typically used by people with a higher amount of assets (500K and above).
The exact amount of revenue that Vise has is unknown but below are a few quotes that help me get a better understanding.
Based on this math I would assume Vise should be doing about $2M ARR this year.
And with clients saying things like this. I imagine that will continue to grow.
The leadership team at Vise is young.
They don't have experience running a venture backed company like Vise but they have an interesting story.
When they moved to San Fransico they leveraging their AI know-how, they were paid $700 per hour by a consulting firm to teach financial “experts” about AI. This is how they were able to start Vise. It's that hustle and know how that excites me.
They're also backed by some great Venture capitalist like Sequoia Capital and Keith Rabois at Founders Fund. I believe having this team around them will help.
Below is the founders contact information. They are both very active on both Twitter and LinkedIn.
LinkedIn - Samir Vasavada, CEO
Twitter - @samir_vasavada
Email - email@example.com or Samir@viseai.com
LinkedIn - Runik Mehrotra, CIO
Twitter - @RunikM
Email - Runik@viseai.com
They are hiring in Engineering, Marketing, Operations, Product, Sales, and Customer Success!