Range has secured a $60 million Series C funding round led by Scale Venture Partners, marking a significant step forward for the company as it accelerates development of its AI-driven wealth management platform. The round included participation from Gradient Ventures and Cathay Innovation, as well as new investors such as 53 Stations. This brings the company’s total capital raised to more than $100 million as it ramps up hiring across AI, product, and go-to-market functions while expanding enterprise partnerships and enhancing the capabilities of its AI wealth manager, Rai.
As part of the announcement, Range has added two prominent leaders to its board of advisors: Rocket Money CEO Haroon Mokhtarzada and Scale Venture Partners’ Alex Niehenke. Mokhtarzada previously founded Truebill, which was later rebranded as Rocket Money after its $1.3 billion exit to Rocket Companies. Before that, he founded Webs, which Vistaprint acquired for more than $100 million in 2011.
Range aims to bring institutional-grade financial planning to a broader segment of Americans who have long been priced out of traditional advisory services. While the wealth management industry oversees more than $90 trillion in assets, only a small fraction of Americans have ever worked with an advisor due to high minimums and percentage-based fee structures. By leveraging advanced AI systems, the company is working to offer sophisticated planning at a fraction of conventional costs.
The company currently manages $400 million in assets under management and has $9.5 billion in assets under advisement, serving more than 5,000 high-net-worth clients across all 50 states. Range has also achieved 300 percent year-over-year revenue growth, placing it among the fastest growing registered investment advisors in the country.
Rai, the company’s AI wealth advisor, is a core component of its strategy. It processes thousands of complex financial questions each month and has already helped reduce advisor message volume by half since its launch. Range is now developing additional AI agents specializing in areas such as compliance, tax optimization, and investment strategy to create an integrated intelligence layer capable of delivering autonomous financial planning while maintaining regulatory precision.
With the new funding, Range plans to expand into broker-dealer services to broaden investment product availability further. The company is also preparing to grow its presence on the West Coast as it continues scaling nationwide.
KEY QUOTES:
“Range is making sophisticated financial guidance radically more accessible through AI. They’re transforming an industry that has traditionally only served the ultra-wealthy by delivering institutional-grade advice at scale. We believe Range has the team, technology, and traction to lead the next era of wealth management.”
Alex Niehenke, Partner at Scale Venture Partners
“The traditional wealth management model is fundamentally broken—slow, expensive, and accessible only to the ultra-wealthy. This new funding ensures we can accelerate our growth—reaching more households, expanding our capabilities, and setting a new standard for what financial advice should look like when powered with hyperfocused AI.”
Fahad Hassan, CEO and Co-Founder of Range
