Farther, a technology-centric financial advisory firm, has successfully closed a $72m Series C funding round.
The round was co-led by CapitalG, Alphabet’s independent growth fund, and Viewpoint Ventures, pushing the company’s post-money valuation to $542m.
This latest injection of capital arrives as Farther surpasses a significant milestone of $5bn in assets under management (AUM), marking a 5x year-over-year growth.
The company credits its proprietary, custom-built technology for driving operational efficiencies, boosting advisor productivity, and accelerating asset growth.
Founded to streamline operations for financial advisors, Farther’s platform enables its advisors to focus more on client interactions by removing administrative burdens.
The company’s technology is designed to empower advisors to spend 90% of their time engaging with clients and prospecting, which is four times the industry average.
Additionally, Farther offers a flexible working environment without mandatory minimums or non-compete agreements, allowing advisors to grow their businesses in line with personal goals.
The newly secured funds will be channelled towards expanding Farther’s advisor network and further enhancing its wealth management platform.
By improving the firm’s technology, Farther aims to set a new benchmark for wealth management services, providing both advisors and clients with superior experiences.
Jesse Wedler, general partner at CapitalG, said, “We spent years looking for companies with the potential to transform the wealth management industry. We were drawn to Farther both for its strong leadership team and for its unique business model which pairs world-class, proprietary technology with human expertise. This creates an ideal environment in which both advisors and clients flourish, and a flywheel which will continue to attract best-in-class advisors to the Farther platform.”
Drew Aldrich, founder and managing partner of Viewpoint Ventures, added, “We’ve been impressed with how fast Farther is growing organically, especially in an industry where growth has mostly come from M&A. Viewpoint’s thesis-driven strategy was purpose-built to invest in firms, like Farther, that transform human-powered markets.”
In total, Farther has now raised more than $118m, with previous investors including Bessemer Venture Partners, Context Ventures, Cota Capital, Khosla Ventures, Lightspeed Venture Partners, MassMutual Ventures, and Moneta Venture Capital.
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