Mili, an AI-based meeting documentation platform for wealth management firms, announced it raised $2 million in seed funding led by Chiratae and BoldCap, with participation from Sparrow Capital, SFMG Wealth Advisors, Gregg Fisher (Quent Capital), and Better Capital.
The U.S. wealth management sector is at a notable inflection point, with trillions of dollars being transferred to younger generations. However, hundreds of thousands of financial advisors spend 60% of their time on administrative tasks rather than client relationships. And Mili’s AI assistant addresses this challenge by automating meeting documentation, saving advisors over 6 hours weekly, equivalent to gaining back 1-2 months annually.
Mili works seamlessly across virtual platforms (Zoom, Google Meet, Microsoft Teams), phone calls, and in-person meetings. And each firm gets customizable templates and firm-specific rubrics that adapt to their unique workflows. Built on SOC 2-certified infrastructure, it features deep integrations with major wealth platforms including Salesforce, Wealthbox, Practifi, and Salentica.
The funding round will accelerate product development and grow Mili’s engineering and customer success teams.
KEY QUOTES:
“AI in Wealth Management isn’t about technology, it’s about trust. We’ve built Mili from the ground up to be the most secure, compliant, and customizable solution that empowers advisors to focus on what matters most – their client relationships.”
– Chirag Gandhi, Co-Founder & CEO, Mili
“The wealth management industry is transforming. Mili’s enterprise-focused approach and emphasis on trust sets a new standard for how AI will be deployed across wealth management firms.”
– Ranjith Menon, Managing Director at Chiratae
“Most firms struggle with customer requests due to limited service teams. With Mili, they gain a compliant digital worker that handles everything from meeting notes to client onboarding, letting advisors focus on relationships.”
– Sathya Nellore Sampat, Partner at BoldCap
