By Riley Kaminer
Getting bogged down in data is no fun. And if you’re an investment advisor, it can mean hours wasted and profitable opportunities missed.
Miami startup Dispatch (formerly OneAdvisory) is on a mission to change that. The company provides what it calls ‘data orchestration’ to registered investment advisors, enabling them to easily sync client data across their teck stack without needing a series cumbersome integrations.
Today, Dispatch announced that they have raised $8 million to invest in the engineering and client service resources required to expand the company, on top of helping Dispatch forge partnerships with CRMs, financial planning tools, and custodians. F-Prime Capital led the fundraise, which included participation from previous investors Fika Ventures, Great Oaks and Twelve Below – in addition to new investors Cofound Partners, Ritholtz Wealth Management’s Compound Capital Fund I, Flyover Capital, and Valor Equity.
Last July, Dispatch raised $4.3 million.
“We built Dispatch to enable advisors to spend more time with their clients and less time on duplicative data management,” Dispatch CEO Rob Nance shared in a statement. “As an advisor, I was frustrated by the time spent maintaining data across multiple applications.”
“Advisors can use Dispatch to build a custom tech stack with seamless data cohesiveness,” he continued. “We’ve received a warm welcome from the wealth management community, and we’re eager to introduce Dispatch to the broader industry.”
Nance founded Dispatch alongside COO Madalyn Armijo and chief product officer Rafi Lurie. The three worked together at Vise, a New York-based technology-enabled asset manager that helps advisors build, manage, and explain personalized portfolios.
Dispatch works in the background, silently connecting information across an advisor’s entire tech stack and automatically updating client profiles as soon as they are changed. Once users onboard a client, they no longer have to re-enter data across various applications. Dispatch also provides other tech companies access to its API, integrating with other popular wealthtech platforms..
“We believe in transforming the advisor’s desktop so that both the advisor and client experience can meet and surpass expectations,” commented Michael Batnick, managing partner at Ritholtz Wealth Management and the Fund Lead for The Compound Capital Fund 1, LP. “Dispatch is treating client data as the connective tissue that automatically syncs and updates across the entire tech stack, ultimately making what has been a complex task simple.”
David Jegen, managing partner of F-Prime’s technology fund, noted that Dispatch is creating a new vertical. “Dispatch is defining the category of ‘data orchestration’ in wealth management, which makes the company a very exciting investment for us.”
Since having launched in 2022, Dispatch has already racked up some major wins. For instance, the platform enabled a major investment advisor to generate more than $13 million in additional annual revenue thanks to the efficiencies Dispatch was able to provide. Among other success stories, Dispatch helped investment advisor aggregators and other wealthtech companies improve their dealflow.
READ MORE IN REFRESH MIAMI:
- Wealth-tech startup OneAdvisory raises $4.3M
- Fixed income fintech YieldX acquired by global wealth management platform FNZ
- Onyx Private banks $4.1M to become the ‘next-generation UBS’
- Moon Mortgage launches new products to help investors leverage their digital assets
