Cashmere closed $3.6M Seed round

Cashmere, an AI-powered client acquisition platform for wealth management firms, secured $3.6 million in a seed funding round. The round was led by Canapi Ventures, with participation from Benchstrength, Plug and Play, The House Fund, Courtyard Ventures, and several angel investors.

Cashmere leverages artificial intelligence to automate the discovery, research, and engagement of prospective clients for wealth management firms. The company plans to use the funding to accelerate product development and expand its team, including the appointment of a Head of Machine Learning. The platform aims to help wealth management firms, from small independent entities to large institutions, build and nurture high-net-worth sales funnels by identifying optimal client matches and facilitating personalized outreach.