New York-based financial service firm Harness Wealth has raised $15m in a Series A funding led by Jackson Square Ventures, bringing its total funding to $19m.
Founded in 2018 by former Compass CFO and COO David Snider and former Nutmeg CMO Katie Prentke, the firm provides financial, tax, and trust and estate advice.
It also offers equity-focused personal finance tools to employees, founders, and investors at major tech companies.
The latest funding will partially support the firm’s efforts to develop its captive business line called Harness Tax, Tech Crunch reported.
Harness Wealth is developing its new offering in response to its clients’ requirement for tax planning amid remote work and increasing popularity of IPOs, SPACs, and cryptocurrencies.
Snider told the publication: “Our goal is only to help people where we can add value, and we saw an opportunity to lean in on tax side.”
According to him, the firm has ‘a very large population of people who may not understand their tax liabilities’ because of the crypto boom in particular.
“We want to make sure we’re front and centre,” he added.
Harness Wealth’s new and existing investors include Bain Capital, Torch Capital, Activant, GingerBread Capital, FJ Labs, i2BF Ventures, First Minute Capital, Liquid2 Ventures, and Alleycorp.
Marc Benioff, Compass founder Ori Allon, and Bain Capital Private Equity co-head Paul Edgerley are also investors in the firm.
Last week, Indian investment technology platform WealthDesk raked in $3.2m in its pre-series A funding round to accelerate growth.
The same week, wealth management platform d1g1t raked in nearly $13m in a new funding round to further fortify its foothold in the US wealth management market.
