Farther, a wealth management platform, has raised $150 million in a Series D funding round that was led by General Atlantic and joined by existing investors including CapitalG, Bessemer Venture Partners, Cota Capital and MassMutual Ventures.
Farther was founded in 2019, headquartered in New York, and it develops a technology workplace for financial advisors and combines portfolio management software, risk management tools, data analysis tools, and artificial intelligence (AI) features.
The $150 million of funding will be used to expand platform capabilities and also support their company’s growth after Farther had recruited over $23 billion of assets.
Taylor Matthews, CEO and co-founder of Farther, said: “At Farther, we’ve built a platform that delivers for wealth managers who demand better technology, better tools, and a better client experience – and for clients across the wealth spectrum who expect the same.”
He added: “Our partnership with General Atlantic will help us continue scaling our Intelligent Wealth Platform, so more advisors can grow their business and deliver greater value to clients.”
Brad Genser, CTO and co-founder of Farther, said the company rebuilt wealth management infrastructure “from the ground up” to replace fragmented legacy systems with an integrated platform.
General Atlantic vice president Laura Chen also commented that Farther is helping advisors reduce operational complexity and focus more on client services.
Farther provides service solutions such as asset location, execution tools, risk management, personalisation analytics, and access to private market investments for high-net-worth clients, ultra-high-net-worth families, businesses, and institutional clients.
The Series D funding round follows Farther’s $72 million Series C funding for the business announced on October 10, 2024, that was led by CapitalG and Viewpoint Ventures with a post-money valuation of $542 million.
In addition, earlier this year the company has established a multi-family office business for ultra-high-net-worth clients. It will be led by former Goldman Sachs executive Ben Seidenstein. Farther Family Office is designed to combine traditional family office services with the company’s own AI-driven wealth management platform, per corporate statements. The offering includes investment management, estate planning coordination, tax strategy, lending coordination, reporting tools and access to alternative investments. Farther uses AI to automate advisor workflows, consolidate client financial data and generate portfolio insights and planning analysis. The technology also supports reporting across complex assets and helps advisors access client information more quickly through AI-assisted tools.
