Dallas-based VRGL has raised $15 million in a Series A fundraising round led by Philadelphia-based MissionOG and Nashville-based FINTOP Capital, the company announced in a news release this week.
According to the release, VRGL is led by co-founders Josh Smith, CEO, and Josh Zimmerman, COO, both have experience developing multi-asset class analytics and SaaS-based platforms. Smith was the co-founder and CEO of Solovis, an investment and performance tool for some of the world’s largest institutional and family office investors.
This financing will allow VRGL to scale operations, grow its sales and expand its partnership capabilities.
“We are excited to close our Series A investment with leading fintech VCs and strategic investors,” Smith said in the release. “We strongly feel advisors and their clients deserve more streamlined onboarding and analytics in the get-to-know-you phase of the relationship. VRGL delivers advisors an immediate ability to add value, create rapport, and drive revenue. With our raise, we will expand to become the leading Client Acquisition and Proposal Management tool on the market.
According to the release, VRGL is a client acquisition, proposal management and retention tool designed to speed up time to revenue and initial check size.
Founding investors of the company Houston-based Sallyport Investments and Beverly Hills-based Checchi Capital also participated in the fundraising. Investments from other venture firms and strategic partners include Dynasty Financial Partners, Northwestern Mutual Future Ventures, Flyover Capital, Fin Capital and The Compound Capital.
“VRGL has experienced tremendous initial new customer growth with leading advisor groups adopting its platform, quickly establishing the company as the emerging industry standard,” Andy Newcomb, co-founder and managing partner at MissionOG, said in the release.” Their platform solves for critical components of an advisor’s prospecting and customer needs that are ripe for innovation and disruption.”
