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Financial Advisory  + Broker/Dealers  + RIAs & Financial Advisors  + Wealth Management  | 
Vanilla Closes New Funding Round with Support from Edward Jones

Vanilla Closes New Funding Round with Support from Edward Jones

Vanilla, an estate planning software startup, announced a fundraising round headed by returning investor Insight Partners, with additional funding from Venrock, Vanguard, and other previous investors. The company also welcomed new investors Edward Jones Ventures, Edward Jones’ venture arm, and Alumni Ventures.

Vanilla was founded in 2019 by entrepreneur Steve Lockshin and has raised over $66 million to date. The company will use the new round of funding to extend its platform through the application of artificial intelligence.

“With the support of our investors, we are expanding our platform, including our pioneering AI technology, to make modernized estate planning accessible and efficient for all,” said Gene Farrell, CEO of Vanilla.

The company’s platform allows broker-dealers, investment advisors and other financial services companies to “cultivate deeper, more valuable client relationships, leading to greater retention” in assets under management.

Since its launch, Vanilla has experienced exponential growth, increasing its customer base tenfold. The company serves more than 10,000 end-clients with a net worth between $1 million and $1 billion, as well as client firms including Vanguard, Mariner Wealth Advisors, Balentine, and Avantax, the company said.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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