PITTSBURGH, Dec. 10, 2020 /PRNewswire-PRWeb/ -- IRALOGIX, Inc. announces that it has completed a $7.5 million Series B financing led by Great North Labs, with participation from Trog Hawley Capital, Riverfront Ventures, and Circadian Ventures. IRALOGIX is a unique, cloud-native technology platform providing paperless, white label IRA product capability to financial services firms. The company's modular offerings enable partners to rapidly launch profitable IRA programs with no account minimums while leveraging institutionally priced investments as well as professional advice and education.
David Bernard, IRALOGIX's CEO, put the capital raise in context, "With this investment, we'll be able to accelerate our efforts to help our partners provide greater service, high-quality institutional investments, and personal advice, all at a lower cost than has been available. That's a game changer and it comes at a critical time when IRA providers, Wealth Managers, Advisors, Banks, Brokerage firms, Mutual Funds, Affinity groups, and Investment providers are all seeking new ways to generate revenue, expand market share and strengthen competitiveness. This underscores why we were successful achieving this additional funding even in a challenging economic environment."
"We invest in excellent management as much as we do excellent ideas," added Circadian Ventures' Founding Partner, Mike Dowdle. "The company's leaders are both successful fintech start-up innovators and seasoned retirement industry executives. They've spent their careers dealing with the very problems IRALOGIX now solves. That was a compelling rationale for us to make an investment in their success."
Ryan Weber, Great North Lab's Managing Partner added, "Legacy technology available today just isn't designed to provide flexible, cost-efficient, easy-to-deploy solutions for IRA providers. IRALOGIX enables industry partners the opportunity to bring truly differentiating offerings to the market."
About IRALOGIX
IRALOGIX is an industry-leading provider of technology-enabled, fully paperless, white label IRA recordkeeping and technology solutions. The company's proprietary technology solutions enable any financial institution to easily customize their IRA offering and compete effectively in all segments of the IRA market. Through modular technology, institutional clients have the choice to use their internal investment or advisory capabilities or select from a number of industry leading providers. IRALOGIX can complement your market strategy, streamline your IRA service options, and help you expand your business. For more information, please visit http://www.iralogix.com.
About Great North Labs
Great North Labs is an early-stage venture fund based in St. Cloud/Minneapolis and focused primarily on the Upper Midwest. It is led by successful tech founders/investors in Minnesota and Silicon Valley. As founders backing founders, the fund cultivates access to investment intelligence and opportunities via strategic relationships to directly help entrepreneurs and startups develop, grow, and find exits. https://GreatNorthLabs.com
About Circadian Ventures
Circadian Ventures is a venture capital firm investing in early stage tech and tech-enabled businesses. Circadian Ventures actively partners with exceptional entrepreneurs to build enduring businesses. Based in Atlanta, Circadian Ventures has investments in various sectors across the United States. http://www.circadian.vc
About Trog Hawley Capital
Trog Hawley Capital is a single-family office based in West Palm Beach, Florida. The firm is stage agnostic, investing in seed to late-stage highly scalable technology companies, across the consumer, enterprise, fintech, and medtech verticals. Trog Hawley Capital values and backs exceptional founders and management teams given its principal's entrepreneurial and operational pedigree.
About Riverfront Ventures
Riverfront Ventures LLC (RFV) is a venture fund investing in early stage technology companies and seeks to invest in high-growth early-stage companies primarily located in southwestern PA. RFV is the affiliate of Innovation Works, Inc. (IW). Over the past 15 years, IW's Seed Fund has become the most active early-stage technology investor in southwestern Pennsylvania, investing over $80 million in over 350 companies that have gone on to raise more than $3 billion+ in follow-on funding. https://www.riverfrontventures.com/
Media Contact
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SOURCE iraLogix, Inc.
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