Farther Secures $72 Million Series C from CapitalG and Viewpoint Ventures to Continue Revolutionizing Wealth Management
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NEW YORK, Oct. 10, 2024 ~ Farther, a leading technology-centric financial advisory firm, has recently closed a successful Series C funding round of $72 million. This funding will be used to expand their advisor network and further enhance their wealth management platform. The round was co-led by CapitalG, the independent growth fund of Alphabet (Google's parent company), and Viewpoint Ventures. As a result of this investment, Farther's post-money valuation has reached an impressive $542 million.

This latest funding comes at a time when Farther has surpassed $5 billion in assets under management (AUM), showcasing a remarkable 5x year-over-year growth. This achievement is a testament to the power of Farther's proprietary technology, which is custom-built to drive operational efficiencies, increase advisor productivity and payouts, and accelerate asset growth.

According to Taylor Matthews, CEO and co-founder of Farther, the company was created with the goal of enabling advisors to focus on delivering value to their clients. By removing operational and administrative hurdles, advisors are able to seize growth opportunities and provide an exceptional experience for their clients. This investment serves as a strong vote of confidence in Farther's vision and will allow them to continue enhancing their technology to set new standards in the wealth management industry.

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One of the key factors that attract seasoned advisors to Farther is its cutting-edge technology, white-glove support, and advisor-first culture. With Farther's technology allowing advisors to dedicate 90% of their time to client interactions and prospecting – four times more than the industry average – they are able to grow their books of business at a faster rate while also delivering more for their clients. Additionally, advisors are given the freedom to build client bases that align with their personal goals without being restricted by mandatory minimums or non-compete agreements. They are also offered a transparent payout structure and equity in the firm.

Jesse Wedler, general partner at CapitalG, expressed his confidence in Farther's potential to transform the wealth management industry. He stated that after years of searching for companies with this potential, they were drawn to Farther due to its strong leadership team and unique business model that combines world-class technology with human expertise. This creates an ideal environment for both advisors and clients to thrive, making it a highly attractive platform for top advisors.

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Drew Aldrich, founder and managing partner of Viewpoint Ventures, also shared his admiration for Farther's impressive organic growth in an industry where growth is typically driven by mergers and acquisitions. He explained that Viewpoint's investment strategy is specifically designed to support firms like Farther that are transforming human-powered markets. In their experience, attracting the best advisors to a tech-enabled platform like Farther's leads to a competitive advantage and eventual dominance in the industry.

This latest funding round brings Farther's total funding raised to over $118 million. The company's existing investors include Bessemer Venture Partners, Context Ventures, Cota Capital, Khosla Ventures, Lightspeed Venture Partners, MassMutual Ventures, and Moneta Venture Capital. With this significant investment from top firms like CapitalG and Viewpoint Ventures, Farther is well-positioned for continued success and growth in the wealth management industry.
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