SUMMARY
- Luminary raised $22M in Series A funding.
- Funds will support AI and platform expansion.
- Luminary helps advisors manage wealth transfers.
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Follow usLuminary, a NYC-based provider of an AI-native wealth transfer and administration platform, has raised $22 million in a Series A funding round, led by Ten Coves Capital, bringing the total amount to nearly $32 million.
The round also saw participation from BNY, 8VC, Fin Capital, Focus Financial Partners, Rockefeller Capital Management’s FinTech Innovation Fund, and family offices.
The company plans to use the fresh capital to strengthen its AI capabilities and integrations, expand into administration workflows and grow its commercial team.
Funding Snapshot
| Metric | Details |
|---|---|
| Fundraise Amount | $22 million |
| Total Funding | Nearly $32 million |
| Valuation | Not disclosed |
| Company | Luminary |
| Sector | Wealth Management / FinTech / AI |
| Headquarters | New York City, USA |
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About Luminary
Founded in 2022, Luminary is a domain-specific AI platform focused on wealth transfer services. It helps wealth, tax and legal advisors serving high-net-worth families manage ongoing wealth transfer strategies, trust and entity structuring and administration.
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The platform transforms information stored in static estate and ownership documents into structured, source-verified data that can be used for planning, reporting, tax modeling and administration.
Core offerings include:
- Wealth transfer planning
- Trust and entity structuring
- Estate administration
- Tax planning and modeling
- Estate scenario modeling
Core Technologies / Products / Services
| Capability/Product | Application/Use Case |
|---|---|
| Luminary Insights | Surfaces planning opportunities, concerns and missing documents |
| Estate 360 | Creates a firm-branded estate overview from a document upload |
| Reporting Templates | Helps firms create standardized outputs across their client base |
| Deterministic Tax Engine | Calculates federal, state, inheritance and asset taxes |
Leadership Comments
"Scaling wealth transfer services starts with data that can serve as a single source of truth for advisors and the families they serve. We're proud to back Luminary as it delivers a platform that helps advisors bring a new standard of care to their clients," said Steve Piaker, founder and managing partner of Ten Coves Capital.
"We started Luminary to democratize the kind of advice and service previously accessible only to a select few, family-office clients," said Barnard. "The AI-era has come along at an ideal time to solve the data and collaboration challenges that have impeded the pace of innovation and limited the delivery of personalized wealth transfer planning and administration services.
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