Feathery, which calls itself an artificial intelligence operations and decision-making system for financial services, announced that it has raised $30 million in total funding, including a recently completed Series A led by Portage Ventures with participation from Index Ventures, Allstate Strategic Ventures, Clocktower Ventures, Erie Strategic Ventures, and Bain Capital Ventures (it has announced it will also raise $30 million in 2021. Raised a seed round of $4.5 million).
According to Federi, it serves more than 300 firms in insurance and wealth management, including registered investment advisors, independent brokers/dealers, as well as insurance carriers and brokers, processing millions of monthly submissions.
Its wealth management clients include Sequoia Financial, Allworth Financial and Mission Wealth.
When it comes to RIAs and broker/dealers, the platform was built to automate workflows for client onboarding, proposal creation, mergers and acquisitions, transitions, account opening, and account maintenance.
According to the company, Feathery’s system aims to collect and structure client information, synchronize systems of record, and normalize data across platforms. Its AI decision system aims to analyze business data, surface insights and recommendations, and feed the analysis and results back into the workflow.
“With this funding, we’re doubling down on products that tap our data networks across customers to help companies make faster, more accurate decisions and seamlessly move data across their workflows,” Featherly co-founder Zac Khan said in a prepared statement.
Khan co-founded Feathery with Robinhood alumnus Peter Dunn in 2021, raising a seed round that year and Launching the company publicly in 2022.
Feathery attended 2026 Wealthstack Demo Contest in the Wealth Management Edge conference in Boca Raton, where company advisor Ara Coutts demonstrated his automated advisor transition tool.