Nation’s leading wealth management firm, Farther closed a $72 million Series C funding round on October 10. The financing was co-led by CapitalG, the independent growth fund of Alphabet – Google’s parent company, and Viewpoint Ventures. <
Headquartered in New York City, Farther is a technology-centric wealth management firm, managing over $5 billion in assets across 100+ wealth managers and 5,000 clients.
Deemed as the fastest-growing Registered Investment Advisor (RIA), Farther’s custom-built technology helps advisors to dedicate 90% of their time to client interactions and prospecting which four times more than the industry standard.
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The latest funding pushes Farther’s valuation to over half a billion dollars or $542 million, a number that roughly quadruples the previous valuation of $131 million late last year.
Farther’s existing investors include Bessemer Venture Partners, Context Ventures, Cota Capital, Lightspeed Venture Partners, MassMutual Ventures, Moneta Ventura Capital, and Indian American investment giant Khosla Ventures.
“We built Farther to enable advisors to focus on what truly matters: delivering value to their clients,” said Taylor Matthews, CEO and co-founder of Farther. “Removing operational and administrative hurdles creates growth opportunities for our advisors, and they can offer a superior experience to even more clients.”
Farther joins the $5 billion in assets over management (AUM) club, a milestone that reflects five times year-over-year growth, the press release said – the news comes as the latest funding went through.
With the latest investment, Farther has raised more than $118 million in total funding. According to the company’s statement, the new capital will be put towards expanding its advisor network and enhancing its wealth management platform.
“With this investment, we will continue enhancing Farther’s technology to set a new benchmark for wealth management advisors and clients alike,” Mathews said.