Feathery, an AI operating and decisioning platform for financial services firms, has secured $30m in funding as it expands its technology across the insurance and wealth management sectors.
The funding includes a recently completed Series A round backed by Portage Ventures, Index Ventures, Allstate Strategic Ventures, Clocktower Ventures, Erie Strategic Ventures and Bain Capital Ventures.
The San Francisco-based company said the capital will support product development around its AI platform, including expansion of its cross-client data network, alongside hiring across engineering and go-to-market teams.
Feathery was built around the challenge that financial institutions manage hundreds of operational workflows across different customer segments and product lines. The company said existing solutions often fall into two categories including narrow point solutions designed for individual tasks, and general AI tools that lack the regulatory and operational capabilities required by financial services firms.
Its platform is designed to support broader client and policy lifecycle processes while integrating with existing technology infrastructure. Feathery combines workflow automation with an AI decisioning layer that structures client information, synchronises data across systems and analyses business information to generate recommendations that can be fed back into operational processes.
The platform currently processes tens of millions of submissions each month, according to the company. Customers use the technology across a range of workflows, including client onboarding, proposal generation, account opening and M&A transitions for RIAs and broker-dealers.
Feathery said its customer base includes wealth firms such as Sequoia Financial, Allworth Financial and Mission Wealth, insurers including Tokio Marine, Hiscox and Banner Life, and brokers including Baldwin Group, Hilb Group and Hylant.
Feathery co-founder and CEO Peter Dun said, “Financial service firms are dealing with more client data and expectations than ever before. Feathery turns those challenges into opportunities for each firm to sharpen their competitive edge, create personalized client experiences and scale operations.”
Portage Ventures general partner and co-head Stephanie Choo added, “Feathery has earned the trust of enterprises by solving the real operational and regulatory complexity that defines financial services. 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.”
Feathery co-founder Zack Khan said, “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.”
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