Estate planning platform provider Vanilla announced this week that it had closed an additional $35 million in previously announced funding.
The funding round, which was previously announced in August without the exact amount, was led by Returning Investors Insight Partnerswith contributions from Venrock, Vanguard, strategic investors Edward Jones Ventures, Nationwide and Allianz, and new investors Alumni Ventures. A note in the post said it had been updated from August “to reflect new investors in the round” (Nationwide and Allianz were not previously present).
As announced in August, the funding will support growth, customer adoption and continued development on Vanilla's platform, including the incorporation of AI technology, which the company calls Vanilla AI or V/AI.
Vanilla's latest announcement follows $30 million in funding from wealth planning platform competitor Wealth.com in September.
In 2022, Vanilla raised $30 million in a Series B round and $14.3 million in a 2021 Series A.
Vanilla also announced separately this week its integration with financial planning platform eMoney.
Currently in limited release, the integration will become generally available to advisors using Vanilla “in the coming months,” according to the announcement.
The direct integration between the two platforms allows client data within eMoney to be automatically imported into Vanilla and updated whenever an advisor logs in. This data can then be used in Vanilla to generate visualizations that illustrate and present the family's financial and wealth information in a single view.
With the new integration, plans and reports created in Vanilla can also be set to automatically sync and save to the eMoney client vault.