(Image source: Gainfully webpage.)
Gainfully, Inc. (San Francisco), has announced that it has raised $2.5 million in a funding round led by MassMutual Ventures (Boston). Gainfully says it will use the funds to significantly grow its institutional business development and customer success teams supporting the expansion of the company’s B2B insurance and financial distribution marketplace.
Gainfully places the funding within a context of “broad” adoption of the vendor’s compliant content/communication network solution by large financial services institutions and insurance companies in the United States, including AllianceBernstein, Voya Financial, LPL Financial (pending launch). The vendor also cites increased recognition of the value of an efficient platform to accelerate innovation in the changing retail advice and insurance industries.
“We are looking forward to leveraging our strong relationships with MassMutual Ventures to accelerate adoption of the Gainfully platform throughout financial services,” comments Cameron Nordholm, founder and CEO, Gainfully. “We’re excited about their shared vision of the potential of a unified industry vendor and channel marketplace.”
Permissioned, Regulation Compliant Network
“Gainfully’s permissioned and regulation-compliant network for the efficient distribution of product literature, social media, and other financial content greatly simplifies the interaction between product manufacturers and their many distribution partners,” comments Eric Emmons, Managing Director at MassMutual Ventures. “With Gainfully, brokers and investment advisors can easily access all materials supporting all the products and manufacturers they represent; manufacturers are likewise able to distribute content to their entire network via a single login.”
Gainfully describes its offering as a patent-pending compliance-enabled network technology that helps intermediaries accelerate and scale their businesses by directly connecting them to fund families, insurance carriers, industry groups, and their RIA/broker-dealer home office. The vendor says the Gainfully app platform makes it simple to create bespoke communication across social, web, and product fulfillment.