Range, a McLean, Virginia-based all-in-one AI WealthTech platform, announced that it raised $12 million in funding led by Gradient Ventures, Google's AI-focused venture fund.
The round also included Expa (founded by Garrett Camp, former Chairman and Co-founder of Uber), Red Sea Ventures, 8-bit Capital, and individuals Randy Reddig (co-founder, Square), Adrian Aoun (CEO & founder at Forward Health), Severin Hacker (co-founder & CTO of Duolingo), and Dan Lewis (co-founder & CEO of Convoy).
The funding will be used primarily to grow the product and engineering teams to accelerate offerings to Range's customers. Range plans to integrate its wealth management tools with various AI technologies to automate aspects of wealth and tax planning.
"We started this company to help families better manage their wealth," said Fahad Hassan, co-founder and CEO of Range. "With our new investors and their experience in AI, we believe this partnership and financing will allow us to assist families during unprecedented times of economic change and uncertainty. Our products will allow everyone to access the advice and tools typically only available to the wealthy."
Company: Range Finance, Inc.
Raised: $12.0M
Round: Unknown
Funding Month: May 2023
Lead Investors: Gradient Venture
Additional Investors: Expa, Red Sea Ventures, 8-bit Capital, Randy Reddig, Adrian Aoun, Severin Hacker, and Dan Lewis
Company Website: https://www.range.com/
Software Category: Wealth Management
About the Company: Founded in 2021 by Fahad Hassan and David Cusatis, Range is an all-in-one wealth management tool to make financial planning accessible to everyone, Range has in-house financial advisers to optimize investment services, tax planning, estate planning, retirement planning, and insurance needs. The all-in-one tools are powered by proprietary AI technology. With no minimums required, personalized guidance, financial tools, machine-learning insights, and 24/7 support, Range is revolutionizing the wealth management industry.
Source: https://www.prnewswire.com/news-releases/range-raises-12mm-series-a-led-by-gradient-googles-ai-fund-to-revolutionize-wealth-management-301814467.html