Feathery raises USD $30 million in Portage-led round

Feathery has raised USD $30 million, including a recently completed Series A led by Portage Ventures.

Investors in the round included Portage Ventures, Index Ventures, Allstate Strategic Ventures, Clocktower Ventures, Erie Strategic Ventures and Bain Capital Ventures.

Feathery sells software to financial services firms, including insurers, registered investment advisers and broker-dealers. It says it now serves more than 300 firms across the insurance and wealth management sectors.

The business focuses on workflow and decision systems used to collect client information, connect records across internal systems and analyse operational data. Its platform handles tens of millions of submissions each month, according to the company.

Customers include wealth managers such as Sequoia Financial, Allworth Financial and Mission Wealth. In insurance, users include Tokio Marine, Hiscox, Banner Life, Baldwin Group, Hilb Group and Hylant.

Product focus

Clients typically use the system across multiple operational tasks rather than for a single process. Examples include client onboarding, account opening and maintenance, proposal generation, submission intake, first-notice-of-loss workflows, policy checks, and data entry into agency management systems.

Feathery said the funding will support further product development and broader expansion in insurance and wealth management. It also highlighted the movement of data between workflows and systems already used by financial institutions as a core part of its pitch.

Peter Dun, Co-founder and Chief Executive Officer of Feathery, outlined the company's view of the market.

"Financial service firms are dealing with more client data and expectations than ever before," Dun said. "Feathery turns those challenges into opportunities for each firm to sharpen their competitive edge, create personalised client experiences and scale operations."

Portage Ventures said its investment reflects the view that financial firms want software built for the sector's specific operational and regulatory demands. It also linked Feathery's position to the data generated through recurring use of its workflows.

"Feathery has earned the trust of enterprises by solving the real operational and regulatory complexity that defines financial services," said Stephanie Choo, General Partner and Co-head of Portage Ventures.

"Every workflow Feathery powers generates data that sharpens decision-making and automates more of the business, creating a compounding advantage that deepens over time. We're proud to back the Feathery team as they define this category," Choo said.

Hiring plans

Alongside the funding, Feathery said it is hiring across engineering and go-to-market roles. It also plans to invest the new capital in products that draw on data shared across its client base.

One founder said that the work will focus on decision-making and moving data between processes.

"With this funding, we're doubling down on products that tap our data network across clients to help firms make faster, more accurate decisions and move data seamlessly across their workflows," said Zack Khan, Co-founder of Feathery.

The investment comes as financial services groups continue to examine how AI tools can be used in customer onboarding, claims intake, compliance-heavy form handling and internal operations. Vendors in the sector have sought to distinguish themselves from both single-purpose automation products and general AI software by emphasising workflow depth, integration with existing systems and controls suited to regulated environments.

Feathery's pitch is based on that gap in the market. The company argues that firms often face numerous workflow problems across client types, business lines, and legacy systems, creating demand for broader software that spans the client and policy lifecycle.