New financing from Acrew, Charles Schwab, and Edward Jones Ventures will bolster the company’s AI strategy and supercharge growth
SAN FRANCISCO–(BUSINESS WIRE)–Alix, a first-of-its-kind wealth transfer platform, today announced a $20 million Series A funding round from Acrew Capital, Charles Schwab and Edward Jones Ventures*. Existing investors Initialized Capital, Scribble, Magnify, Ziegler Link•age Funds, and Cameron Ventures also participated in the oversubscribed Series A round. This additional funding will support the company’s growth strategy, bringing the power of AI-enabled estate settlement to more families in need.
“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,” said Alexandra Mysoor, CEO and Co-founder, Alix. “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.”
Alix is the first and only automated wealth transfer solution designed to simplify the estate settlement process. With today’s announcement, Alix has now raised a total of $30.65M. To date the company has been focused on demonstrating proof of concept, customer acquisition and brand awareness, and setting up its partnership infrastructure that brings Alix into distribution partners throughout the US. The new financing will supercharge its agentic AI strategy, enabling Alix to scale its product and onboard new executors faster, create a more seamless experience for customers and build new integrations that further connect estate settlement to the rest of the financial value chain. Additionally, Alix will expand its workforce, adding new AI-focused product and engineering talent, and strengthening its sales teams. Alix is also opening a San Francisco office to capitalize on the Bay Area’s primacy in AI, driving the company’s product development and innovation goals this year.
“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,” said Hugh Tamassia, co-founder and CTO, Alix. “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.”
“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,” said Lauren Kolodny, cofounder, Acrew Capital – Alix’s lead investor in this Series A round. Kolodny, who has been named to the Forbes Midas List for three consecutive years, continued, “We believe in the work Alix is doing to create a new category, bringing long-overdue innovation to the wealth settlement space.”
As the nearly $124T Great Wealth Transfer continues over the next two decades, services like Alix will become more critical. The burden of managing an estate currently takes 12-18 months and up to 900 hours following someone’s death. Alix has cracked the code for how to simplify this inherently complex process by providing an AI and automation-assisted partner that guides executors from start to finish. Alix is future-proofing wealth management strategies for the next generation.
“Our investment in Alix underscores our commitment to advancing innovation that benefits clients across the wealth management spectrum,” said Barry Metzger, Managing Director, Income & Wealth Solutions at Charles Schwab. “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.”
“Edward Jones is dedicated to helping our clients prepare for life’s transitions, including the complexities of estate settlement,” said Greg Robinson, Principal, Edward Jones. “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.”
In addition to bolstering its AI strategy, Alix will leverage the new financing to grow awareness of the product through investments in marketing and business development, as well as continue to enhance its customer experience to make it easier for families to navigate estate settlement. To help the Alix team steer its vision, today Alix is also announcing two new board appointments: Lauren Kolodny from Acrew Capital and Andrew Sather from Initialized Capital.
For more information about Alix, please visit www.meetalix.com.
About Alix
Alix is the first and only automated wealth transfer solution designed to simplify the estate settlement process. We combine leading-edge AI technology with empathetic human experts to deliver peace of mind and time back to families when they need it most. Built by the most experienced professionals in the estate settlement industry, Alix uses a mind+machine approach to guide families through every step of the estate settlement journey and easily connect them with the tools, resources, and partners they need to manage and retain their wealth effectively now and for future generations. Learn more at www.meetalix.com
*Edward Jones Ventures invests via JFCA LLC, an affiliate of Edward Jones
Contacts
Olu Solanke
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