Follow The Money: 10 VC Investments to Watch In April

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Headquarters: New York

CEO: Jon Stein
New Funding: $32 million
Round: C
Backers: Citi Ventures, Northwestern Mutual Capital, Globespan Capital Partners, Bessemer Venture Partners, Menlo Ventures, Anthemis Group

With a goal of managing $100 billion in investments by 2020, Betterment has raised $32 million in Series C funding to help it get there. The company currently manages around $500 million, and is growing that number 10 percent monthly. The company's Web-based money management service automates the role of wealth advisers through the app. Next up on the company's plate is an investment adviser tool, called Betterment Institutional.

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