What is blooom?
Founded in 2013 by Chris Costello, blooom operates as a specialized Registered Investment Adviser (RIA) focused on the automated management of employer-sponsored retirement plans. The company distinguishes itself by providing personalized, algorithm-driven portfolio adjustments for 401(k), 403(b), and TSP accounts, effectively bridging the gap between complex institutional offerings and individual participant needs. With a market position anchored in transparency and accessibility, blooom has successfully managed billions in assets, positioning itself as a critical player in the personal finance technology sector.
How much funding has blooom raised?
blooom has raised a total of $13.1M across 2 funding rounds:
Series A
$4M
Series B
$9.1M
Series A (2015): $4M with participation from UMB, Hyde Park Venture Partners, DST Systems, Commerce Ventures, and QED Investors
Series B (2016): $9.1M led by Nationwide Ventures, UMB, QED Investors, Industry Ventures, and TTV Capital
Key Investors in blooom
QED Investors
A global boutique venture capital firm focused on early-stage, disruptive financial services companies, leveraging deep operational experience to drive breakthrough growth.
Nationwide Ventures
The corporate venture arm of a Fortune 100 insurance and financial services organization, providing strategic capital to innovative startups in the fintech and insurance sectors.
UMB
A diversified financial services institution offering comprehensive asset servicing, wealth management, and institutional banking solutions to support high-growth enterprises.
What's next for blooom?
The infusion of capital positions blooom to further refine its proprietary advisory technology and expand its reach within the retirement services ecosystem. As the firm moves beyond its initial scaling phase, the focus shifts toward enhancing user engagement through advanced financial planning tools and deepening integrations with major retirement plan providers. By maintaining a lean, tech-forward approach, the company is well-equipped to navigate evolving regulatory requirements while continuing to provide value-added services to its growing user base, ensuring long-term sustainability in the wealth-tech market.
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