Farther Closes $72M Series C Funding Led by Alphabet’s Growth Fund
Farther, a technology-focused financial advisory firm, closed a $72 million Series C funding round to broaden its advisor network and improve its wealth management platform.
The round was co-led by CapitalG, the growth fund of Google parent company Alphabet, and Viewpoint Ventures, and raises the firm’s post-money valuation to $542 million.
The funding comes as Farther eclipses $5 billion in assets under management, a 5x year-over-year growth, according to the firm, across more than 100 wealth managers and 5,000 clients.
“Removing operational and administrative hurdles creates growth opportunities for our advisors, and they can offer superior experience to even more clients,” said Taylor Matthews, CEO and co-founder of Farther. ”This capital infusion signals strong market confidence in that vision.”
The San Francisco-based firm claims its technology enables advisors to dedicate 90% of their time to client interactions and prospecting – 4x more than is typical. The company also promotes a streamlined onboarding process for advisors and tailored investment solutions for clients.
With the latest investment, Farther has raised more than $118 million in total funding. The company’s existing investor base includes Bessemer Venture Partners, Context Ventures, Cota Capital, Khosla Ventures, Lightspeed Venture Partners, MassMutual Ventures, and Moneta Venture Capital.
In September of 2023, the firm announced it closed its oversubscribed $31 million Series B funding round led by venture capital firm Lightspeed Venture Partners.
