Responsive, a Vancouver-based wealth advisor solution for financial institutions, has raised $1.1 million in seed-stage financing.
The round was led by Plug and Play Ventures, a U.S. venture capital firm. Responsive joined the Plug and Play fintech accelerator program last year.
Founded in 2015 by CEO Davyde Wachell, Responsive’s technology uses machine learning to provide insights from real-time data to wealth managers, helping them anticipate client needs and improve performance.
The startup will use the funds raised to further develop intellectual property based on new developments in artificial intelligence and behavioural sciences, and run pilots with financial institutions.
Photo: The team of Responsive.
PRESS RELEASE
Responsive raises $1.1mm to upgrade wealth advisors with machine learning
Plug and Play leads round to accelerate growth
September 2018
Responsive has closed $1.1mm in seed stage funding lead by Plug and Play Ventures, an early investor in Paypal, Dropbox and Lending Club. The company uses bio-inspired machine learning to enhance advisor team performance for banks, insurers and private wealth managers.
Responsive helps wealth managers anticipate client needs by deriving actionable insights from real time data. The solution combines a business intelligence studio with an advisor productivity dashboard to enhance enterprise-wide understanding and servicing of clients. Responsive integrates with CRMs, robo-advisors, digital wealth platforms and their own Hybrid solution.
“Digital has altered client expectations. Traditional wealth managers must do more with less.”, said Davyde Wachell CEO of Responsive, “Our hybrid solution uses machine learning to upgrade advisor performance at scale.”
Responsive has been working in stealth mode for the past year with a handful of private wealth managers in Canada. “The company will use the funding to further develop intellectual property based on recent developments in AI and the behavioral sciences, and to run pilots with forward thinking global financial institutions.
“By applying insights from the brain and behavioral sciences, as well as contemporary machine learning,” said Logan Grosenick (VP of Research at Responsive; M.Sc., Ph.D. Stanford), “we can uncover complex financial portraits and life events that enable advisors to act when it matters most.”
ABOUT RESPONSIVE
Since 2015, Responsive has focused on evolving the performance of wealth management teams. Responsive’s customers currently manage over $8 billion for high net worth and institutional clients. In fall 2017, Responsive participated in the Plug and Play Fintech accelerator and was accepted into NVidia’s Inception program. For more information on Responsive please visit www.responsive.ai.
CONTACT:
Davyde Wachell
CEO Responsive davyde@responsive.ai (778) 869-5151