Covestor has moved about $100 million in trades. Covestor allows users to replicate trades that are done by top investors. Initially Covestor operated under a separate brand and required visitors to commit at least $10,000 to mimic the behavior of 70 specific investors.
Today Covestor has 30 employees across London, Michigan, New York, and San Francisco. Covestor is not cash-flow positive and plans to raise funding later this year. So far Covestor raised $10.6 million from Spark Capital, Amadeus Capital, and Union Square. [VentureBeat]
