VRGL, a Client Acquisition and Investment Proposal Management solution, announced the completion of a strategic fundraising round. The round was led by existing investors FINTOP Capital and MissionOG, with significant support from Northwestern Mutual, Flyover Capital, Fin Capital, and other key industry insiders and friends of the firm.
With this financing, VRGL will continue to execute on its industry-leading Client Acquisition and Investment Proposal Management solution, expand product offerings, and support market growth. This additional funding will enable the company to effectively serve the evolving needs of its clients in the wealth management industry.
Founded in 2021 by pioneers of the institutional wealth management software industry, VRGL has quickly established itself as a leading tool for streamlining the investment proposal process. Since August 2022, VRGL has grown its customer base over 700%, processing hundreds of thousands of investment statements for a diverse range of clients. From small Registered Investment Advisors (RIAs) to top wealth management firms such as Dynasty Financial Partners, Ritholtz Wealth Management, Sequoia Financial Group, and Steward Partners, VRGL’s platform has helped accelerate time to new revenue by 50%, increase prospect-to-client conversions by 30%, and reduce the time to portfolio analysis by 75%.
“We are thrilled to have completed our latest round of financing. VRGL has quickly established itself as a leading player in the wealth management software space,” said Josh Smith, CEO and co-founder of VRGL. “This round will allow us to accelerate our go-to-market and to continue enhancing our investment proposal platform and operational efficiency. Our client lead roadmap is increasingly differentiating us from others in the market and I am excited to see what the next few years hold.”
“VRGL has introduced truly innovative capabilities for critical advisor-related client acquisition needs,” said Andy Newcomb, Managing Partner at MissionOG. “We continue to be impressed with the magnitude of the before and after results as advisors utilize the VRGL platform.”
“FINTOP Capital is proud to further support Josh and the team at VRGL” said Rick Kushel, Managing Partner at FINTOP. “The VRGL client acquisition platform has evolved to industry-leading, must-have technology for advisors looking to grow their book of business. This funding round will support scale, and we are excited to be a part of it.”
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