Robinhood, a leading investment app, has made a significant move in its quest to enhance its services by acquiring Pluto Capital, Inc., a pioneering AI-powered research platform. The acquisition is expected to equip Robinhood with advanced tools for swift trend identification, guided investment strategies, and real-time portfolio optimization.
According to the agreement, Pluto founder Jacob Sansbury will join Robinhood’s team after the deal is closed, but the financial terms of the deal have not been disclosed. At Robinhood, Sansbury will spearhead the integration of AI technologies, utilizing Pluto’s data analysis capabilities to process and interpret market data. This will grant users real-time access to global financial data and personal data, allowing them to capitalize on new opportunities more rapidly.
The integration of Pluto’s platform will also enable Robinhood to offer customized investment strategies tailored to individual users. By analyzing factors such as risk tolerance, investment goals, and historical behavior, Pluto’s algorithms will provide users with personalized recommendations.
In addition, Pluto’s real-time updates and insights will empower investors to make informed decisions and optimize their portfolios for better outcomes. Founded in 2021, Pluto has raised $4 million across multiple seed funding rounds, valuing the company at $12 million.
“We are thrilled to welcome Pluto and Jacob Sansbury to the Robinhood family,” said Mayank Agarwal, VP of Engineering. “Their impressive platform and expertise in artificial intelligence will complement our mission to democratize finance.”
Sansbury echoed Agarwal’s sentiments, stating, “Robinhood is the ideal destination to build products that democratize access to financial services like wealth management and financial planning through cutting-edge AI.”
