Jemstep Inks $6M

Jemstep, maker of a personal online investment guidance and management service, has raised $6 million in new funding, bringing its total raised to $10.5 million. The company did not disclose the names of investors. Jemstep is based in Los Altos, Calif.

Jemstep, the recently launched personal online investment guidance and management service, today announced the completion of its Series A round of financing of $6 million from a group of private investors, bringing the total to $10.5 million. The capital will be used to drive product development, fuel growth, and accelerate corporate recruitment.

“We’ve seen a significant need in the marketplace for a Web service that offers personalized, transparent, and unbiased investment advice. Consumers are looking for objective advice that empowers them to make the right investment decisions, rather than relying on expensive or biased services,” said Michael Blumenthal, CEO of Jemstep. “The new funding will enable us to disrupt the status quo and introduce new features to help people better align their investment strategies with their financial goals.”

Jemstep launched its service in October 2011 after spending several years in private beta developing its investment ranking technology, for which it has received a patent. The site tracks more than $170 million worth of investments, and hopes to significantly increase that number as knowledge about the service spreads.

About Jemstep
Jemstep Inc. is a free online investment guidance and management service that helps individual investors make better investment decisions and achieve their financial goals faster. Jemstep’s investment evaluations, based on patented technology and objective market data, are unbiased and transparent. Jemstep does not accept paid listings or sponsorships that influence its fund rankings in any way, nor does it factor subjective user reviews into the guidance it provides. A privately owned company with headquarters in the heart of Silicon Valley, Jemstep is a registered investment advisor under the rules and regulations of the U.S. Securities and Exchange Commission.