Cashmere Raises $3.6 Million in Seed Round

Cashmere Raises $3.6 Million in Seed Round

Cashmere, a Los Angeles, CA-based AI-powered client acquisition platform for wealth management firms, has raised $3.6 million in a seed funding round.

The round was led by Canapi Ventures, with support from Benchstrength, Plug and Play, The House Fund, Courtyard Ventures, and angel investors.

Canapi Ventures is a venture capital firm investing in early to growth-stage fintech companies. It was founded in 2018 and is based in Washington, District of Columbia.

The company will use the funds to accelerate product development and make key hires, including a new Head of Machine Learning.

Founded by Farbod Nowzad and Eshan Govil, Cashmere offers an AI-powered client acquisition platform for wealth management firms. The company utilizes advanced AI to automate the discovery, research, and engagement of prospective clients. Its mission is to provide unprecedented depth and actionability to sales and marketing through world-class engineering and data infrastructure, achieving near-omniscience.

Funding Details

Company: Cashmere

Raised: $3.6M

Round: Seed Round

Funding Date: September 2024

Lead Investor: Canapi Ventures

Additional Investors: Benchstrength, Plug and Play, The House Fund, Courtyard Ventures

Company Website: https://www.cashmereai.com/

Software Category: Client Acquisition