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Betterment

Online retailer of branded apparel and gifts

Overview

Betterment runs an online retail storefront that sells branded apparel, accessories, and gifts. Customers can buy items such as t-shirts, hoodies, onesies, beanies, mugs, and tote bags through the brand’s online shop. The products are designed and marketed with a focus on promoting happiness and a better lifestyle under the motto “Wear Betterment. Pursue Happiness.” Revenue comes from direct sales on the online platform, with prices set regularly and occasionally discounted, leveraging economies of scale as sales grow. Compared with other online retailers offering niche branded products, Betterment differentiates itself by a broad, lifestyle-focused lineup and a clear happiness-centric message aimed at a wide range of customers. The company’s goal is to grow a direct-to-consumer business that makes branded, feel-good merchandise accessible to many shoppers while driving profitability through high-volume sales.

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About Betterment

Simplify's Rating
Why Betterment is rated
C+
Rated B on Competitive Edge
Rated B on Growth Potential
Rated D+ on Differentiation

Industries

Consumer SoftwareDesignConsumer Goods

Company Size

501-1,000

Company Stage

Series F

Total Funding

$435M

Headquarters

New York City, New York

Founded

2010

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Simplify's Take

What believers are saying

  • Betterment says it serves over one million customers and $70 billion AUM.
  • September 2026 AI launches broaden Advisor Solutions and support year-end agentic workflows.
  • January 2027 tiered custody pricing and OnPay integration expand advisor distribution and monetization.

What critics are saying

  • Treadway's 2026 cash-sweep class action attacks Betterment's fiduciary duty and spread capture.
  • RIA custody fees start January 2027, intensifying price competition against Schwab and Fidelity.
  • A sustained trust hit on sweep pricing could cripple acquisition, retention, and custody growth.

What makes Betterment unique

  • Betterment runs AI-first wealth workflows across retail, advisors, and workplace plans.
  • Its September 2026 document reader cuts advisor onboarding to roughly 30 seconds.
  • It combines automated portfolios, tax-loss harvesting, and custody under one integrated platform.

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Funding

Total Funding

$435M

Above

Industry Average

Funded Over

8 Rounds

Series F funding comparison data is currently unavailable. We're working to provide this information soon!
Series F Funding Comparison Coming Soon

Benefits

  • Health Insurance
  • Dental Insurance
  • Vision Insurance
  • Life Insurance
  • Disability Insurance
  • 401(k) Company Match
  • Unlimited Paid Time Off
  • Wellness Program

Growth & Insights and Company News

6 month growth

1%

1 year growth

0%

2 year growth

1%
PR Newswire
Oct 20th, 2026
Betterment adds mega backdoor Roth to solo 401(k)s, lifting savings limit to $72K

Betterment has added mega backdoor Roth capabilities to its solo 401(k) offering, helping eligible self-employed investors save more for retirement. The feature is open to direct customers and to financial advisors using Betterment Advisor Solutions. A mega backdoor Roth lets participants make extra after-tax contributions and convert them to Roth. Savers can go beyond regular employee and employer limits, up to the plan's overall annual cap of $72,000 in 2026, excluding catch-up contributions. Customers contribute online, get a notification when funds are ready to convert, and start the conversion in their account. Betterment provides the tax forms. Advisors can manage the process for clients with automated tracking tools and reminders. Betterment plans to add the feature to its employer-sponsored 401(k) plans in the coming months.

PR Newswire
Oct 6th, 2026
Betterment launches unified managed accounts for RIAs with automated tax management

Betterment Advisor Solutions has launched Unified Managed Accounts (UMAs), enabling advisors to combine multiple investment strategies within a single client account. The platform allows advisors to blend Betterment's model marketplace portfolios with custom strategies as distinct sleeves whilst maintaining coordinated rebalancing and automated tax management across all holdings. CEO Sarah Levy said advisors consistently requested tools to deliver personalised portfolios at scale. The UMAs feature lets advisors configure each investment sleeve independently while Betterment coordinates tax-loss harvesting and rebalancing across strategies. The launch follows Betterment's model marketplace expansion earlier this year, which added portfolios from Goldman Sachs Asset Management, State Street Investment Management, and Vanguard. The company indicated UMAs will support future direct indexing capabilities.

Little Black Book (LBB)
Oct 1st, 2026
Betterment turns Drake Maye's perfect Spiral into 'breaderment'

Betterment turns Drake Maye's perfect Spiral into 'breaderment' Created by Another Thing, the campaign sees Ann Michael Maye transform Drake's football 'Perfect Spiral' into a limited-edition cinnamon swirl loaf Editorial Series Campaigns and creative work from across the globe, all in one place. New England Patriots Quarterback Drake and his wife Ann Michael Maye have partnered with wealth management platform Betterment for new national 'Breaderment' campaign from Another Thing, which features Ann Michael creating the 'Perfect Spiral' cinnamon swirl bread. The partnership ties in nicely because Ann Michael is a baker and has become widely known on social for her baking content. "When Betterment came to us with the idea for the 'Breaderment' campaign, I thought it was the perfect way to bring Drake and me together for something we both enjoy. I love baking, he loves football, and somehow we ended up turning 'making bread' into actual bread. It felt like a really fun way to bring both of us into the idea," said Ann Michael Maye. To celebrate the campaign, Betterment and Ann Michael have teamed up with Boston's Flour Bakery and co-founder Joanne Chang to recreate the limited-edition loaf at participating Flour locations October 2-8th, while supplies last. The loaves will be available for free while supplies last. Customers simply need to say 'BREADerment' at the register.

WealthTech Strategy
Sep 25th, 2026
Betterment brings ai-powered client onboarding to advisors.

Betterment brings ai-powered client onboarding to advisors. 6 hours ago Betterment. (2026, September 24). Betterment brings AI-powered client onboarding to advisors. PR Newswire. https://www.prnewswire.com/news-releases/betterment-brings-ai-powered-client-onboarding-to-advisors-302888703.html * Betterment launched an AI-powered document reader within its Advisor Solutions platform to streamline client onboarding for registered investment advisors. * Advisors upload brokerage statements and the AI parses them to populate transfer request information in approximately 30 seconds, replacing manual data entry. * CEO Sarah Levy said the release extends Betterment's 15-year effort to democratize wealth management, describing AI as "the next expression of that work" and enabling "a smoother first experience for new clients." * Customer data does not train AI models and sensitive information receives encryption protection. * The release follows earlier AI implementations including an AI-enabled Account Recommender for retail customers and Custom Portfolios with AI Insights. * Betterment plans additional AI applications across all business divisions before year-end 2026, including agentic workflows and Model Context Protocol releases for its advisor platform. * The company serves over 1 million customers and approximately $70 billion in assets across retail investing, workplace retirement plans, and RIA custodial services.

PR Newswire
Sep 24th, 2026
Betterment launches AI-powered document reader to cut advisor onboarding to 30 seconds

Betterment has launched an AI-powered document reader for its advisor custody platform, Betterment Advisor Solutions. The tool allows advisors to upload client brokerage statements directly, with AI automatically populating transfer requests instead of manual data entry. The feature aims to streamline client onboarding, enabling advisors to set up transfers in as little as 30 seconds. Advisors can review details and set portfolio strategies within the same workflow. CEO Sarah Levy said the company plans to make platform data available to agentic workflows before year-end, followed by an MCP release. The feature is available now to all advisors on the platform. Betterment serves over 1 million customers managing more than $70 billion in assets across retail investing, workplace retirement plans, and advisor solutions.

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