Financial-tech startup Riskalyze will double the office space that it is leasing in Auburn as the company prepares for expansion of its product, engineering, support and coaching teams.
In a January Inside Business column, Aaron Klein, the president of the financial-software startup, said he was looking at additional space. He’s found it just a four-minute drive away from the company’s headquarters at 373 Elm St. The new space will be at 470 Nevada St., right near the Regal Cinemas Auburn 10 theater.
Klein has said the company would be making roughly 100 new hires this year. The company had 121 employees in January 2017, 90 in January 2016 and 40 in January 2015.
While some of the new hires will work in Auburn, others will be based at Riskalyze’s office in Atlanta. The company also is expanding its brick-and-mortar presence in that city, moving into 16,000 square feet in the midtown Bank of America Plaza.
The company’s signature product, Riskalyze, helps financial advisers assess their clients’ tolerance for investment risk by determining their so-called risk number, a figure from 1 to 100. The most aggressive investors have higher risk numbers, while conservative investors come in lower.
Employees have named conference rooms in its offices after Wall Street-themed movies, but Matt Fritsch, Riskalyze’s director of marketing channels said Tuesday that the growth is posing a problem: “We’re kind-of running out of movies, to be honest.”
In an interview in December, Klein told me that he and the the company’s two other co-founders, Mike McDaniel and Matt Pistone, often have talked about how they are in the early stages of building a 100-year company.
“We’re getting close to the end of year 6, so we have 94 years to go,” he said. “It’s very clear to us at this point that less than 10 percent of our opportunity is behind us and much more is still in front of us.”
Right now, Riskalyze’s leaders have honed in on being an independent partner for financial advisers, but that doesn’t mean they won’t ever look at selling the company. That might be the option that makes the most sense for employees in future, Klein said.