VRGL, which offers wealth managers institutional-grade analytics and automated data extraction tools, has collected $15m for its Series A round.
MissionOG and FINTOP Capital served as the lead investors. Other commitments came from Sallyport Investments, Checchi Capital, Dynasty Financial Partners, Northwestern Mutual Future Ventures, Flyover Capital, Fin Capital and The Compound Capital.
This capital burst will enable VRGL to boost its sales and partnership capabilities and execute its product and marketing roadmap.
The company was founded by Josh Smith, CEO, and Josh Zimmerman, COO. Smith and Zimmerman have experience building multi-asset class analytics and SaaS-based platforms. Smith was previously the co-founder and CEO of Solovis, an institutional investment management technology platform.
VRGL claims to be the first client acquisition, proposal management and retention tool designed to increase time to revenue and initial check size.
Wealth managers can build trust faster by bringing transparency, visibility and collaboration across the client lifecycle through automated data extraction, institutional-grade analytics, and the ability to seamlessly generate PDF proposals.
Its analytics solution5 Pillar AnalyticsTM covers performance, risk, diversification, taxes, and fees, and statement extraction functionality.
Smith said, “We strongly feel advisors and their clients deserve more streamlined onboarding and analytics in the get-to-know-you phase of the relationship. Prospects should have a clear understanding of what it will mean if they transition their wealth and advisors should have clear, objective ways to demonstrate value.
“VRGL delivers advisors an immediate ability to add value, create rapport, and drive revenue. VRGL customers have seen a 50% acceleration in decision-making speed, meaning more revenue for the advisor, faster. With our raise, we will expand to become the leading Client Acquisition and Proposal Management tool on the market.”
MissionOG recently contributed to the $50m Series C funding round of payment and accounting platform Autobooks. Macquarie Capital Principal Finance led the round
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