Signal Advisors has raised $10 million in a Series A round led by Brian Ru and Hemant Taneja at General Catalyst. The latest funding implies that the company has raised a total of $16 million. The additional $6 million came from a seed round in 2020 raised from Detroit Venture Partners, Ludlow Ventures, General Catalyst and others.
Founded by Patrick Kelly, Signal Advisors is building a specialized financial platform for financial advisors. Patrick, a financial advisor, discovered the need for an end-to-end platform for financial advisors, specifically those independent and offering annuities and life insurance.
“We started with annuities because advisors simply don’t have great options for this technology today, But that’s just the beginning. We want to provide independent financial advisors with an integrated platform. Whatever their needs, whatever their clients need, the technology and service can provide a seamless experience.” Pat Kelly, co-founder and CEO of Signal Advisors.
Signal’s solution allows financial advisors to bypass traditional distributors and simplify the sale of annuities. The company says its product can track commissions in real-time and advance payout ahead of carrier payments.