Betterment is now worth $800 million

Roboadvising is a multi-million dollar business.

Betterment, the largest independent roboadvisor on the market, is now valued at $800 million after raising another $70 million in funding. The nearly decade-old roboadvisor brought on the $70 million as an extension of a Series E funding round from March 2016 led by the Swedish investment company Kinnevik.

"We've always prioritized what would have the biggest impact for our customers. Since the beginning, that's meant focusing on delivering the best possible after-tax returns and empowering customers to do what's best with their money," Betterment CEO Jon Stein said in a statement. "The additional funding will allow us to fulfill our mission and continue to build products that put even more money back in our customers' pockets."

Since Betterment last announced funding in 2016, the firm has grown from managing $4 billion to managing $10 billion in assets. At that time, Betterment was valued $100 million lower at $700 million.

Betterment isn't a unicorn yet, but it's getting closer. The $1 billion roboadvisor ... coming in 2018?