Ignition joins Motif backers Norwest Venture Partners and Foundation Capital
Palo Alto, CA, – July 7, 2011
Motif Investing, providing an innovative way to invest in ideas, today emerged from stealth mode, announcing an October 2010 close of $6 million in Series A funding led by Norwest Venture Partners (NVP) and Foundation Capital and new board members. The Series A funding will support development of the company’s new investment platform- allowing customers to easily turn ideas into investments – and will also be used to expand the team. Set to launch in fall 2011, Motif is now accepting beta users. Founded by a former Microsoft executive and an experienced hedge fund analyst, Motif Investing aims to provide a powerful alternative to existing investment options.
“For the past few years I’ve been searching for innovative companies that can successfully create new opportunities in the retail investment market. The meltdown of 2008 left consumers weary of financial markets and it was clear that change was needed,” said Sergio Monsalve, Norwest Venture Partners (NVP) and Motif Investing board member. “When I found Motif, I was excited about the team’s approach to bringing a new investment platform to consumers who are looking for simple and exciting investment alternatives that provide more customer control at low costs. It was a logical and exciting early investment for us.”
“We aim to fill a desire by investors to invest in what they believe in versus what the financial industry sells. We believe ideas not only move the world, but they also make the best investments,” said Hardeep Walia, co-Founder and CEO of Motif Investing. “Our platform will dramatically shift the economics of retail investing and we’re working closely with our seasoned team to bring this exciting platform to investors this fall.”
“The financial services industry is ripe for disruption and opportunity,” said Charles Moldow, General Partner at Foundation Capital and Motif Investing board member. “Motif’s model will provide new opportunities to consumers and create a new platform and standard for the retail investment segment at a time when alternatives are desperately needed in the marketplace.” Motif Investing has been operating in “stealth mode” since last fall. Motif Investing is currently accepting beta users at www.motifinvesting.com
About Motif Investing
Motif Investing is providing a new investing platform that enables customers to easily invest in ideas. Founded by a former Microsoft executive and an experienced hedge fund analyst, Motif Investing aims to give power back to consumers who want an alternative to current retail investment opportunities. The company is venture backed by Norwest Venture Partners (NVP) and Foundation Capital. Set to launch in fall 2011, Motif Investing is now accepting select beta users. For more information, please visit www.motifinvesting.com
About Norwest Venture Partners
Norwest Venture Partners (NVP) is a leading global investment firm that manages more than $3.7 billion in capital. Headquartered in Palo Alto, California, NVP has subsidiaries in Mumbai and Bengaluru, India and Herzelia, Israel. NVP makes early to late stage venture and growth equity investments in U.S. and global companies across a wide range of sectors including: information technology, business services, financial services, infrastructure, technology enabled services and consumer. NVP has actively partnered with entrepreneurs to build great businesses for more than 50 years and has funded nearly 500 companies since inception. For more information visit www.nvp.com.
About Foundation Capital
Foundation Capital is a venture capital firm driven by the singular goal of changing the world – about leaving it a better place – by building great companies. It is this entrepreneurial spirit along with a deep technical expertise that gives the partners the understanding, perspective, and enthusiasm to help promising companies in their formative stages. Foundation Capital targets innovative opportunities in cleantech, consumer Internet and infrastructure; telecommunications and networking; and enterprise software and on-demand services. Foundation Capital maintains investments in nearly 70 ventures, including Calix, Financial Engines, Netflix and Silver Spring Networks. For more information, visit www.foundationcapital.com.