Practifi, a Chicago, IL-based business management platform for financial advisors, raised $16.3m in Series B funding.
The round was led by Updata Partners, with participation from existing investors Equity Venture Partners (EVP).
The company intends to use the funds to scale the team, expand presence around the globe, and invest in the software platform to further elevate the client experience.
Led by Glenn Elliott, co-founder and chief executive officer, and Adrian Johnstone, co-founder and chief commercial officer, Practifi provides a collaborative business management platform designed for growing financial advice businesses around the world. The system allows financial advisors, family offices and broker dealers to manage their client relationships, monitor compliance and automate workflows, all through a single interface.