Battery Ventures Leads New Round for Jump

Jump, an AI-focused productivity platform for financial advisors, has raised $20 million in a Series A funding round led by Battery Ventures, with participation from Citi Ventures, Sorenson Capital, and Pelion Ventures Partners.

The new capital will be used by Jump to continue the development of its AI tools that are designed to streamline administrative tasks and improve customer interactions. Including this new round, Jump has now raised $24.6 million in total funding.

Jump’s AI assistant integrates into a financial advisors’ workflows and automates tasks such as meeting preparation, notetaking, compliance documentation, CRM updates, financial planning data management, and client follow-ups. Jump integrates with other platforms like Zoom, Teams, Salesforce, Wealthbox, and Redtail.

Users of Jump’s technology include solo practitioners to enterprise-level registered investment advisors (RIAs) and independent broker-dealers (IBDs). Jump was founded in 2023 by CEO Parker Ence and two co-founders and is headquartered Salt Lake City.

“On our path to empower advisors and their clients to thrive in the age of AI, our easy-to-use, compliant solution is quickly becoming the standard to help advisors save massive time and enhance client engagement,” said Mr. Ence. “We are incredibly grateful to our customers, partners and team members who embraced this vision early and helped spread the word, driving our growth almost entirely through word of mouth. We love seeing advisors use Jump to focus on their most important work: creating lasting, trusting relationships with their clients as they guide them through some of life’s most critical decisions.”

Since emerging from closed beta in January 2024, Jump has experienced rapid adoption, with an average monthly growth rate exceeding 35%. The platform has partnered with several financial advisory firms including LPL Financial, Sanctuary Wealth, Integrated Partners, and Mission Wealth. A recent survey by the company showed that Jump users save an average of one hour per workday, with some reporting even greater time savings. Additionally, 84% of users rated Jump as superior for meeting preparation and follow-up tasks.

“We are thrilled to partner with Jump and lead this Series A round,” said Dharmesh Thakker, general partner at Battery Ventures. “We were impressed by Jump’s leading product and market position, the quality of their team, their rapid growth and the positive reviews they’ve received from their customers. As the wealth industry transitions into the AI era, Jump has quickly become the default choice for individual financial advisors and enterprise leaders looking to adopt this transformative technology in a safe, practical way.”

Founded in 1983 and headquartered in Boston, Battery Ventures invests in technology companies across sectors such as software, IT infrastructure, consumer internet, and industrial technology. Battery Ventures’ latest fund, Battery Ventures XIV LP, closed with $3.8 billion in 2022.

Palo Alto-based Citi Ventures focuses on early-stage investments in fintech, enterprise tech, data analytics, and commerce.