New York-based AI-driven investment management platform Vise has closed a $45m Series B fundraising led by venture capital firm Sequoia Capital.

Sequoia was joined by Allen & Company, Founders Fund, and Greenoaks Capital.

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Palo Alto Networks CEO Nikesh Arora and Michael Ovitz also participated in the fundraising, and assumed the role of advisers.

With the infusion, Vise intends to continue the development of its product offering and expand headcount.

Commenting on the development, Vise co-founder and CIO Runik Mehrotra said: “We look forward to using this funding to accelerate our work at Vise as we move towards becoming the central nervous system of the wealth management industry.”

As part of the deal, Sequoia partner Ravi Gupta secured a seat on the Vise board.

He is the second from the venture capital company, after Shaun Maguire, to join the Vise board.

Vise was officially launched last November by Samir Vasavada and Mehrotra.

The firm leverages AI-powered automation to support the complete lifecycle of the adviser-client relationship.

Vise raised $14.5m in a Series A funding round led by Sequoia Capital this May.

Since the announcement of the round, the company is said to have quadrupled its number of clients and added firms including Aurelien Capital Partners, Barber Financial Group, as well as Hexagon Capital Partners to its client list.

The company aims to increase staff strength to 100 in the first half of next year.

Gupta noted: “Vise is revolutionising the wealth management industry by enabling financial advisers with sophisticated technology.

“Samir and Runik are visionary founders who continue to demonstrate an unparalleled understanding of the financial services space and an exceptional ability to solve for the modern adviser’s needs.”