What is blooom?
Blooom operates as a sophisticated online Registered Investment Adviser, specifically engineered to optimize individual participant accounts within complex retirement frameworks such as 401(k), 403(b), and TSP plans. By automating the management of these assets, the company addresses the pervasive issue of under-managed retirement savings, providing a streamlined, user-centric interface that simplifies investment selection and fee reduction. Positioned at the intersection of financial technology and personal wealth management, Blooom has carved out a distinct market niche by democratizing access to professional-grade portfolio oversight for the average employee, ultimately managing billions in assets during its peak growth phase.
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, Commerce Ventures, QED Investors, Hyde Park Venture Partners, and DST Systems
Series B (2016): $9.1M led by TTV Capital, Nationwide Ventures, Industry Ventures, UMB, and QED Investors
Key Investors in blooom
QED Investors
A global boutique venture capital firm focused on early-stage, disruptive financial services companies across the U.S., U.K., and emerging markets.
Nationwide Ventures
The corporate venture arm of a Fortune 100 insurance and financial services organization, investing in high-growth startups that align with their broad financial services ecosystem.
UMB
A diversified financial services company providing institutional banking, wealth management, and trust administration services to a wide range of clients.
What's next for blooom?
With a robust foundation established through multiple rounds of institutional backing, Blooom is well-positioned to further refine its algorithmic advisory capabilities and expand its footprint in the retirement services ecosystem. The strategic focus remains on enhancing the user experience for plan participants while deepening integrations with major financial institutions. As the firm continues to mature, the emphasis will likely shift toward long-term sustainability and the potential for broader financial wellness offerings, ensuring that the capital deployed by its venture partners translates into sustained market leadership and improved retirement outcomes for its growing client base.
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