(PRNewswire) - Wealthbox, a leading CRM software platform for financial advisors, announced today that Frontier Growth, a growth equity firm focused on fast-growing software businesses, has taken a minority stake in the company with a $31M equity investment.
Founded by serial entrepreneurs John Rourke and Dan Ferranti, Wealthbox is a purpose-built CRM technology for financial advisors at wealth management firms and broker-dealers to track client relationships, collaborate as a team, and streamline operations. Launched in 2014, Wealthbox is known for its modern product design, powerful features, and intuitive user experience and is now integrated with leading custodial platforms and wealth-tech products.
"Frontier Growth has an amazing track record in helping rapidly growing companies scale even faster, and we're delighted to partner with them in our Series B round of financing," said John Rourke, CEO of Wealthbox. "The investment capital for Wealthbox will allow us to accelerate product development and innovation so we can continue providing best-in-class CRM and related software solutions for financial advisory firms of all sizes."
"Wealthbox's talented team, impressive growth rate, and excellent business metrics are a great fit for the added support, expertise, and funding we offer," said Richard Maclean, Managing Partner and cofounder of Frontier Growth. "We look forward to the partnership with the Wealthbox team to help financial advisory firms better operate their businesses with Wealthbox as their hub software."
As part of the transaction, Richard Maclean and Matt Williams of Frontier Growth will join John Rourke and Dan Ferranti on Wealthbox's board of directors. Prior to the transaction, Starburst Labs, the parent company of Wealthbox, spun out Wealthbase, a social trading app for retail investors, which is now operating as its own separate company. Wealthbox is now the sole property of Starburst Labs, Inc.
About Wealthbox
Wealthbox operates as a remote-first company with employees located across the United States, and a large part of the team is located in Rhode Island. The Wealthbox CRM technology is purpose-built for the wealth management industry vertical and designed for financial professionals at advisory firms and broker-dealers to manage client relationships and streamline operations to grow their practices. Learn more at www.wealthbox.com
About Frontier Growth
Frontier Growth supports the growth of software companies that have $5M to $30M in revenue by deploying both investment capital and operational expertise. The firm was founded with a culture that puts People Before Numbers, because it's people that lead to real growth. With over 20 years' experience, over $1.5B in AUM, and actively investing its fifth fund, Frontier respects that each of their companies represents someone's life's work. It's why the firm's explicit focus is to help them grow without stifling the innovation that's made them successful. Learn more at www.frontiergrowth.com
SOURCE Wealthbox CRM
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Wealthbox CRM
Mar 08, 2022
