Alix, a wealth transfer platform, has announced a successful $20 million Series A funding round, led by Acrew Capital, with participation from Charles Schwab and Edward Jones Ventures. Existing investors, including Initialized Capital, Scribble, Magnify, Ziegler Link•age Funds, and Cameron Ventures, also contributed to the oversubscribed funding round. With this latest investment, Alix has raised a total of $30.65 million.
Alix is the only automated wealth transfer solution designed to simplify the estate settlement process. The company has primarily focused on validating its concept, acquiring customers, building brand recognition, and forming partnerships across the United States to enhance its distribution efforts.
The new funding will expedite Alix’s AI-driven strategy, allowing it to scale its product, onboard new executors more efficiently, and create a smoother customer experience. It will also facilitate the development of new integrations that connect estate settlement more closely with the broader financial ecosystem. Additionally, Alix intends to expand its team by hiring more experts in AI-focused product development and engineering, while also strengthening its sales force.
To support its product innovation and development, the company is opening a new office in San Francisco, capitalizing on the Bay Area’s leadership in AI.
Alongside enhancing its AI strategy, Alix plans to utilize the new funding to increase product awareness through investments in marketing and business development. The company will continue to improve its customer experience, making it easier for families to navigate the complexities of estate settlement. To guide its vision, Alix is also announcing two new board appointments: Lauren Kolodny from Acrew Capital and Andrew Sather from Initialized Capital.
As the significant Great Wealth Transfer unfolds over the next twenty years, services like Alix will become increasingly essential. Currently, managing an estate can take 12 to 18 months and involve up to 900 hours of work after a person’s death. Alix has developed a solution to streamline this complex process by providing an AI and automation-assisted partner that supports executors throughout. In doing so, Alix is future-proofing wealth management methods for the next generation.
How the funding will be used: This additional funding will support the company’s growth strategy, bringing the power of AI-enabled estate settlement to more families in need.
KEY QUOTES:
“In just two years we’ve grown Alix from a concept to a category-creator. Now we’re ready to turn our attention to scaling our business for even greater impact. The support of these leading investors validates our vision to become families’ intergenerational wealth management partner and empowers us to strategically support a relatively untapped market of families seeking a better way to settle estates after losing a loved one.”
Alexandra Mysoor, CEO and Co-founder, Alix
“Alix has grown in parallel with the tremendous evolution of AI, allowing us to leverage the latest capabilities in the technology to reengineer estate settlement in a way that wasn’t possible two years ago. Our AI-powered system eliminates delays, cuts through bureaucracy, and identifies and distributes assets with speed and precision. Today, we’re unlocking millions trapped in slow, outdated processes and are striving towards more advanced capabilities every day. As we continue to build this category, we believe automated estate settlement can become a foundational layer of the future of finance.”
Hugh Tamassia, co-founder and CTO, Alix
“We’re especially excited to partner with the team at Alix, a company that’s taking a bold swing at reimagining the intersection of AI and fintech – two industries that have the power to transform how people settle estates and legacies. We believe in the work Alix is doing to create a new category, bringing long-overdue innovation to the wealth settlement space.”
Lauren Kolodny, cofounder, Acrew Capital – Alix’s lead investor in this Series A round
“Our investment in Alix underscores our commitment to advancing innovation that benefits clients across the wealth management spectrum. Alix blends AI technology with empathetic human expertise to guide and support clients through the estate settlement process – improving efficiency without losing the human touch.”
Barry Metzger, Managing Director, Income & Wealth Solutions at Charles Schwab
“Edward Jones is dedicated to helping our clients prepare for life’s transitions, including the complexities of estate settlement. Alix’s focus on preserving and protecting wealth for future generations aligns with our ambition to serve more clients, more completely as families navigate the largest intergenerational wealth transfer in history.”
Greg Robinson, Principal, Edward Jones
