Key Points
Pontera has raised $60 million in fresh funding led by investment firm ICONIQ Growth, the New York-based company which builds software to help financial advisers manage retirement accounts, said on Thursday.. didn't disclose its valuation, but a source close to the company said it was now worth over $550 million..
Financial advisers like Dynasty Financial Partners and SageView Advisory Group use Pontera's platform to analyze, rebalance and monitor various government issued retirement funds and other accounts across financial institutions...
Pontera co-founder and chief executive Yoav Zurel said the company's annual revenue has quadrupled since 2021, but did not give any financial details..
By June 2021, 401(k) plans in the United States held an estimated $7.3 trillion in assets and represented nearly one-fifth of the $37.2 trillion US retirement market, according to Investment Company Institute...
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