Digital wealth management software producer Trizic has received $10m in series A funding from investors including financial services technology provider FIS.
Venture capital firm Sorenson Ventures led the round, which also featured Freestyle Capital, Broadhaven Capital Partners, Peak6, Commerce Ventures and private investor Betsy Cohen. It increased the company’s overall funding to more than $18m.
Founded in 2014, Trizic has developed a software platform that enables clients such as banks, brokerages and asset managers to automate parts of the wealth management process. The technology is intended to be used by wealth advisors, rather than as a robo-advisor for investors.
Trizic had previously raised $8.3m in equity and $3.5m in debt financing, according to press releases and securities filings.
The company secured $3.3m round in a February 2017 round led by Freestyle Capital and backed by Broadhaven and Commerce Ventures, and its earlier investors include Operative Capital.
Drew Sievers, Trizic’s CEO, said: “For the past year, we have focused on successfully deploying solutions for our clients, and advancing the underlying technology and connections into, and out of, the Trizic platform.
“With a strong sales pipeline and many conversions across all three of our target verticals, now was the perfect time to bring in some incremental capital, and expand our deployment and sales organisations.”