funding round: Helmed by former Citigroup CFO Sallie Krawcheck, Ellevest has secured approximately 62.5 million in equity funding since its founding in 2014, according to current SEC filings, according to The Independent. The New-York based investment platform plans to spend the new influx of capital on technology upgrades and new product categories, according to the firm. Ellevest, an automated investment platform tailored to women, announced a new 33 million funding round backed by prominent investors Pay Pal and Melinda Gates-founded Pivotal Ventures. Women's lives and realities are different than men's, and I think we'll see more and more of a demand for products designed to reflect that, Gates said in a statement. The latest round was led by Rethink Impact and PSP Growth, according to the statement. This is an important market opportunity that Ellevest is well-positioned to tap into.
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