San Francisco-based startup Alix has secured $20 million in Series A funding to accelerate the development of its AI-driven estate settlement platform, the company announced Monday.
The round was led by Acrew Capital, with participation from Charles Schwab and Edward Jones Ventures, alongside existing investors including Initialized Capital and Scribble.
The latest investment brings Alix’s total funding to $30.65 million. The company, founded just two years ago, aims to streamline the estate settlement process, a task that can take up to one and one-half years and require as many as 900 hours after a death, according to industry estimates.
Alix plans to use the new capital to scale its AI strategy, expand its workforce, and open a San Francisco office to tap into the region’s technology talent. The company also intends to enhance its product integrations and improve the customer experience for families navigating estate settlement.
“In just two years we’ve grown Alix from a concept to a category-creator. Now we’re ready to turn our attention to scaling our business for even greater impact,” Alexandra Mysoor, chief executive and co-founder of Alix, said Monday.
She added that the support from investors “validates our vision to become families’ intergenerational wealth management partner.”
The firm’s platform automates much of the estate settlement process, aiming to reduce the administrative burden on executors and heirs. Alix’s approach integrates artificial intelligence with human expertise, a combination that has drawn interest from major financial institutions.
“Alix blends AI technology with empathetic human expertise to guide and support clients through the estate settlement process – improving efficiency without losing the human touch,” said Barry Metzger, managing director of income and wealth solutions at Charles Schwab.
Charles Schwab has recently taken a minority stake in Wealth.com, aiming to expand its trust and estate planning services for retail clients. Last year, Edward Jones Ventures participated in a funding round for Vanilla, an estate planning software provider focused on financial advisors. Both firms’ investments reflect a broader push to expand digital offerings for advisors and clients.
The funding for Alix comes as the so-called Great Wealth Transfer is expected to move nearly $124 trillion between generations over the next two decades. A recent Edward Jones survey conducted in partnership with Cerulli found that half of investors prioritize avoiding family conflict during wealth transfers, while others focus on equitable distribution and protecting assets from market risks.
The T3 Inside Information Software Survey released earlier this year also highlighted the growing market share of estate planning solutions among advisors.
"[A] growing number of sophisticated fintech options have emerged in the past several years, to the point where estate planning advice has moved into the mainstream," the report said.
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