AI-powered advisor technology startup Jump has received considerable attention over the first year and a half of its existence, and now it is adding substantial financial backing.
The company announced the successful completion of a $20 million Series A funding round led by Battery Ventures.
For those unfamiliar, Jump built an AI assistant for financial advisors that can largely automate recording client conversations, transcribe them and produce notes, task lists, summaries and compliance records. It has integrations with Zoom, Microsoft, Google, Salesforce and the popular advisor-specific CRM applications Redtail and Wealthbox, among others.
Parker Ence, CEO and co-founder of Jump, said the company plans to accelerate product development efforts, including expanding its suite of advisor-specific AI workflows and agentic AI work outputs with the funding. He also said the company plans to grow staff to meet demand from advisory firms, including expanding its sales and support teams.
“The main reason we raised the money was to meet the demand,” said Ence, who, when asked if he and his co-founders had to expend the effort and energy involved in putting together a fund-raising roadshow and visit venture capital or private equity firms, responded no.
“We have been in this very weird situation where because of a lot of inbound interest, we didn’t have to do that—it was really a short, quick process—which is great because even the shortest roadshow can be demanding on resources, time and people,” he said.
While perhaps not a household name for many financial advisors, Battery Ventures is a long-established investment firm founded in 1983 that invests across a wide range of industry verticals and has a strong Silicon Valley presence, as well as offices in New York, Boston, London and Tel Aviv.
Other financial services-related brands that advisors might find familiar in its portfolio (or that have been acquired) would include Coinbase, MX, Lightbox, and TradeKing (acquired by Ally Financial).
Jump received additional participation from Citi Ventures (which has also invested in Betterment and Wealth.com), as well as existing investors Sorenson Capital (which led Jump’s $4.6 million seed round in June 2024) and Pelion Ventures Partners.
Asked whether Jump had already entertained acquisition offers, Ence laughed and said there had been nothing serious yet.
“If you think about it, one year ago, we were three co-founders and one year ago is also the anniversary of our first paid customer; it is still a little early,” he said, noting that the firm had since grown to more than 40 employees.
While much of Jump’s early user base was from among the early-adopter, solo practitioner crowd, word had quickly gotten around.
A year in, RIA firms using Jump include plenty of solo practitioners but also Integrated Partners, Mission Wealth, and Sanctuary Wealth. The AI provider is also part of LPL Financial’s vendor affinity program and, according to Ence, is currently the only pre-approved product in its class for use by the IBD's 23,000 affiliated advisors.
When asked whether the large number of providers offering similar AI-powered services Ence said time would tell.
“There are a lot of entrants in our space, and I think you’ll see an ever-widening gap between who can deliver on note-taking and then meet the demands of enterprise requirements,” said Ence.
The company has built extensive enterprise controls and permissioning features that allow firms and their compliance teams to configure Jump meet their specific policy requirements, he said.
“There’s a lot of talk about AI, but is there impact, and we have asked firms using us what has the impact actually been for you?” he said, noting that users responded in a recent survey that the application was saving them at least an hour per workday.
“Many respondents told us it was saving them, on average, up to two hours and when we asked them what they were doing with the time, It was split between going to find new clients, spending more time with existing clients, or taking a break—going to play golf or kayaking, for example,” Ence said.
Jump has been no slouch when it comes to industry accolades, either.
In June, Jump won Best in Show out of 11 competing firms and applications during the WealthStack technology demos competition, part of the Wealth Management EDGE conference. In September, it also took home three WealthManagement.com Industry Awards in the categories of Technology Disruptor, Innovative New Applications and Advisor Choice Technologies. It also won Wealthtech Startup of the Year from the research and consultancy firm Datos Insights (formerly the Aite-Novarica Group).
“We were impressed by Jump’s leading product and market position, the quality of their team, their rapid growth and the positive reviews they’ve received from their customers,” said Dharmesh Thakker, general partner at Battery Ventures, in a prepared statement announcing the funding.
