Asseta AI, a purpose-built accounting platform designed for family offices managing complex multi-entity wealth, on Tuesday announced a $4.2 million seed funding round co-led by fintech venture capital firm Nyca Partners and investment firm Motive Partners.
Asseta AI said its growth reflects the accelerating demand from family offices looking for technology designed for their unique needs. The platform now supports more than $10 billion in assets, and the company has experienced significant year-over-year annual recurring revenue growth. Adoption has been especially strong among larger family offices, with nearly one-third managing more than $1 billion, the New York City-based company said in a Nov. 18 media release.
The capital will be used to accelerate Asseta AI’s product roadmap and team expansion, the company added.
Recommended Articles
Technology February 18, 2025
Prismatic Rebrands as Asseta, Turns Focus to Family Offices
At the center of this effort is The Intelligent Family Office Suite, Asseta AI’s platform built to modernize how family offices manage accounting, reporting, and data governance. In the months ahead, the company said it will broaden its engineering and customer success teams and roll out new applications that enhance forecasting, planning, and performance insights.
“Together, these investments will deepen visibility, improve decision-making, and further modernize how family offices manage their financial operations,” Asseta AI said.
“The wealth-transfer wave and the proliferation of ultra-high-net-worth families today means family offices must operate with the rigor of a public company and the agility of a startup,” Dean Palmiter, co-founder and CEO of Asseta AI, said in a statement. “Yet the infrastructure hasn’t caught up. Asseta AI’s purpose-built architecture closes that gap. With this new funding, we’re looking forward to expanding our engineering and customer success to move beyond the core general ledger and deliver more advanced modules that give family offices the flexibility and control they deserve.”
“Our goal has always been to build an intelligent platform that evolves with our clients,” added Daniel Kennedy, co-founder and chief technology officer at Asseta AI. “This funding enables us to accelerate development of new modules and strengthen the core architecture, ensuring family offices have a scalable system that adapts to their growing complexity and data needs.”
In a statement, Harsh Govil, partner at Motive Partners, said, “Asseta AI leverages the significant progress in horizontal AI infrastructure to deliver a best-in-class vertical product. Family offices have long been left behind by legacy systems, even as their operational needs have grown more complex. We believe Asseta AI represents the next era of family-office infrastructure, delivering a core system that supports multiple entities, complex capital structures, and true visibility. The company’s vision and execution perfectly aligns with Motive Partners’ mission to drive innovation and reshape the future of finance.”
Jasleen Kaur, partner at Nyca Partners, added. “At Nyca, one of our core investing theses is around ‘Finding the Efficient Frontier between Man and Machine.’ This next frontier within wealth management lies in the intelligent orchestration of financial data that will enable precise and automated next best actions. Asseta AI exemplifies that vision by bringing institutional-grade technology and AI capabilities to the family office ecosystem, a space that’s long been underserved by innovation. We’re thrilled to support Dean and the Asseta team as they redefine how the modern family office will operate.”
More information about Asseta AI can be found here.
Thanks for reading CPA Practice Advisor!
Subscribe Already registered? Log In
Need more information? Read the FAQs
