AI-powered life insurance brokerage Modern Life has announced a $20 million Series A funding round led by Thrive Capital, with participation from New York Life Ventures, Northwestern Mutual Future Ventures and Allegis.
This brings the company’s total raised to $35 million.
The capital will be put toward expanding strategic partnerships nationwide and developing its proprietary AI-driven platform.
Modern Life describes itself as a tech-enabled life insurance brokerage for advisors who are licensed to sell insurance, offering access to products from more than 30 carriers and is licensed in all 50 states.
The company’s platform specializes in several key areas that help advisors, including underwriting and risk assessment analysis, advice and recommendations, workflow automation, and client lifecycle management.
Founded in 2021, the company emerged from stealth in August 2022 with $15 million in seed funding. It added long-term care insurance and hybrid long-term care insurance to the many other life insurance products it sold in early 2023.
bQuest Raises a Seed Round Led by First Rate Ventures
The turnkey client support platform bQuest has raised a seed round led by First Rate Ventures of Arlington, Texas.
Terms of the deal were not disclosed.
bQuest, which refers to itself as a Care Intelligence Platform, joined the Founders Arena (also located in Arlington, Texas) in October, and won a WealthManagement.com Industry Award in the Specialized Planning category in September.
Built to help caregivers and fiduciary advisors in finding vetted aging care and end-of-life services for loved ones and clients, First Rate will also serve as a strategic build partner, helping in the development of AI agents, expanding its national provider network, and scaling its human concierge services.
Carefull Is Now Approved for Osaic Advisors
Independent broker/dealer network Osaic announced that Carefull, a platform for monitoring the day-to-day financial safety of the elderly and helping family members, caregivers and the advisors of those in cognitive decline, had been approved for use by its 11,000 advisors.
With AI-driven fraud, social engineering scams and family financial caregiving challenges continuing to rise, Osaic identified an urgent need for enhanced client protection.
Before selecting Carefull, Osaic conducted an in-depth assessment of the client protection space and noted the platform’s “ability to deliver value beyond traditional identity protection,” according to Clayton Chandler, chief data and analytics officer of Osaic.
In addition to being an Osaic-approved vendor, advisors who choose to work with Carefull will get it at a discounted rate negotiated by the firm, though the amount of that discount was not available prior to publication.
This is just the latest large firm to make Carefull available or partner with it. In May, the national RIA Integrated Partners announced a new strategic partnership with Carefull, and the latter had previously announced deals with national insurance carrier Nationwide and Cetera Financial Group.
Carefull has raised a total of $19.7 million in publicly announced funding; $16.5 million in a Series A round in late 2023 and an initial seed funding round of $3.2 million in February 2021.
SUBSCRIBE Adds Strategies to its Altscape Marketplace
Fintech SUBSCRIBE, a firm that specializes in alternative investment management technology, has added several strategies to its Altscape Marketplace, which it launched in June.
SUBSCRIBE’s Research Select List includes funds from 50 South Capital, AB CarVal, ExchangeRight Real Estate, Fidelity Investments, GCM Grosvenor, KKR, Legalist, New Mountain Capital and Stone Point Credit. Asset classes include asset-based finance, credit secondaries, infrastructure, litigation finance, real estate DSTs and venture capital, upon which institutional investment consultants have conducted investment and operational due diligence.
“As wealth managers shift portfolio allocations from 60/40 toward the private market enhanced portfolio of 50/30/20—access to a wider universe of properly reviewed investment options is critical for financial advisors,” Thomas Burke, head of investment products at SUBSCRIBE, said in a statement. “Altscape is meeting this demand and delivering differentiated institutional caliber investment strategies at the same time.”
Canoe and Prime Buchholz Expand Private Markets Intelligence Partnership
Canoe Intelligence and Prime Buchholz have expanded their strategic partnership focused on private markets intelligence.
According to the firms, the unified product builds on Prime Buchholz’s multi-year use of Canoe’s platform to automate document collection and data processing for its approximately 250 institutional clients. Rather than building separate connections to multiple systems, Prime Buchholz invested in Canoe as its standardized data layer.
“By linking Canoe’s automated collection and our AI extraction with Prime Buchholz’s data validation, and PrimePlus analytics, what previously took an investment team days or weeks is now effortless and available on demand—with complete audit trails from source documents to final insights,” Zack Helgeson, head of product at Canoe Intelligence, said in a statement. “This combination of transparency, speed, and institutional-grade accuracy will transform how investment teams work.”
The enhanced Canoe x PrimePlus integration is live and available to alternative investors.
GReminders Launches Latest Suite of Features, AI Document Access
The AI-notetaking, meeting and automation platform GReminders announced this week the launch of AI Document Access, enabling compliant, AI-driven access to documents directly within workflows.
With these new features, the company’s AI Assistant can access systems including Box, SharePoint, OneDrive, Redtail Documents and Google Drive.
GReminders launched its agentic, fully autonomous “Do Anything” assistant in July, enabling the technology to proactively prepare for an advisor’s upcoming meetings, automatically bringing in relevant information from their CRM and email communication.
The company rolled out its generative AI “Ask Anything” assistant in March.
AI Document Access is now live and included at no additional cost for subscribers of GReminders’ Base Business plan.
