Boosted.ai, Building Agentic AI for Wealth Managers, Raises $15M

Boosted.ai, Building Agentic AI for Wealth Managers, Raises $15M

Generative artificial intelligence company Boosted.ai announced this week the closing of a $15 million financing round. Part of the funding will go toward further developing its latest technology and expanding into the wealth management market.

While not a household name for most financial advisors, Boosted.ai launched in 2017 and is perhaps better known to asset and investment managers. It has offices in Toronto and New York, and the company states that it currently serves more than 300 active clients managing in excess of $3 trillion in assets across its institutional and wealth management segments.

“We started with institutions, hedge funds, sovereign funds,” said Joshua Pantony, co-founder and CEO of Boosted.ai, in an interview with WealthManagement.com earlier this year.

The latest financing includes funding from Fidelity Investments Canada ULC and Boosted.ai’s existing institutional shareholders, which include Ten Coves Capital, Spark Capital, Portage Ventures, Royal Bank of Canada and HarbourVest Partners.

According to a Boosted.ai spokesperson, this additional capital is an extension of the firm’s Series B round and brings its funding total to $61 million.

As a startup, Boosted.ai began building its own machine-learning algorithms for sophisticated users at hedge funds and institutions.

“Our users have used us for everything from idea generation to analyzing stocks, portfolios, and risk—really make the whole investment process more efficient and streamline and perform workflows on your behalf,” said Pantony.

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