Subscription-based scheduling firm Facet this week announced that it has raised $35 million in new funding.
The round was led by Multiplier Capital, with additional investment from previous investor Warburg Pincus, as well as Audacious Capital and others.
While generally considered a venture capital firm, Multiplier is known for creating customized debt solutions for those it finances. While detailed terms of the raise were not disclosed, it was a mix of equity and debt financing.
This brings Facet's total funding to more than $210 million since its founding in 2016.
It raised $100 million Series C funding round in January 2022with venture capital firm Durable Capital Partners, TeleSoft Partners and Green Cow Venture Capital all coming in for the first time, along with Warburg Pincus.
That round was preceded by that one Serie B in 2020which raised $25 million and was led by Warburg Pincus.
According to its most recent Form ADV, the firm, which combines financial planning technology with people-based advice for a flat fee, now has almost $3.5 billion in assets under management and 191 employees, including 89 advisors. Facet says it now serves more than 14,000 families.
In 2019, Facet shifted its business model from acquiring smaller accounts of other advisory firms to a direct-to-consumer model.
According to a statement, this latest funding will advance key initiatives, including further technology development and expanded financial planning services, all of which aim to accelerate growth and improve the overall member experience.
In mid-2022, after the Series C funding round, Facet expanded its management teamfocusing on customer experience and marketing. It also hired a former JP Morgan portfolio manager, a data scientist and an economist as well.
At the beginning of this year, Facet partnered with wealth planning platform wealth.com to build integrations between the two.