San Francisco-based wealthtech provider Feathery announced it has raised $30 million in total funding, a figure that includes funds from its recently completed Series A, from Portage Ventures, Index Ventures, Allstate Strategic Ventures, Clocktower Ventures, Erie Strategic Ventures and Bain Capital Ventures.
“Financial service firms are dealing with more client data and expectations than ever before,” said Peter Dun, Co-Founder and CEO of Feathery. “Feathery turns those challenges into opportunities for each firm to sharpen their competitive edge, create personalized client experiences and scale operations.”
Feathery said its AI platform is designed for financial services enterprises to automate data collection, document processing, onboarding and workflows while integrating with existing systems. The firm’s AI Operating System collects and structures client information, synchronizes systems of record and normalizes data.
A second layer, the AI Decisioning System, analyzes business data, provides insights and recommendations, and feeds that back into workflows to improve efficiency.
Feathery provides RIAs and broker-dealers with services for client onboarding, proposal generation, M&A and transitions, account opening and account maintenance.
“Feathery has earned the trust of enterprises by solving the real operational and regulatory complexity that defines financial services,” said Stephanie Choo, General Partner and Co-Head of Portage Ventures. “Every workflow Feathery powers generates data that sharpens decision-making and automates more of the business, creating a compounding advantage that deepens over time. We’re proud to back the Feathery team as they define this category.”
Zack Khan, Co-Founder of Feathery added, “With this funding, we’re doubling down on products that tap our data network across clients to help firms make faster, more accurate decisions and move data seamlessly across their workflows.”
Feathery serves over 300 firms in the insurance and wealth management industries.
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