The news: Australian financial technology startup Marloo has raised a USD10 million ($13.94 million) seed round led by Blackbird Ventures, to accelerate development of its AI tool for financial advisers.
The numbers: The company reported an average 40% month-on-month revenue growth and said it now boasts over 650 paying firms across six countries.
The company has raised a total of USD12.7 million in 12 months.
The context: Marloo’s AI assistant helps financial advisers automate administrative tasks by converting client meetings, calls and files into advice documents, review letters and communications written in the adviser’s style.
In a press release shared by Marloo on Tuesday, the company said the funding accelerates three things: “deeper partnership with the advisers already on Marloo; broader reach to the ones who have not yet found us; and a product that defines what an AI partner can be for the profession.”
Blackbird’s funding doubles down on their $4.2 million pre-seed funding announced in September last year.
What they said: General partner at Blackbird, Samantha Wong said: “Hardy, Shak and Ben are building with the clarity, velocity and obsession that defines generational companies. What they’re building is elevating the entire profession and what every adviser is capable of. It reminds us of the early days of Canva.”
