Vancouver’s Responsive has closed a $3.5 million Series A round led by Co-operators.
Responsive is a fintech startup that leverages machine learning to help advisor-led businesses that manage over $10B AUM to better serve and engage investors.
The strategic investment will help the company expand to US and European markets, as well as commercialize their APIs and integrations to help advisory businesses and platforms rapidly adopt their solutions.
Co-operators utilizes the company’s solutions to provide a custom streamlined onboarding and advisor workflows and will continue to partner with Responsive to add more functionality to its wealth management platforms in the future.
“Partnering with companies like Responsive is core to our innovation strategy,” says Co-operators’ Daniel Sinclair, Vice President, Corporate Development & Co-Head Co-operators Corporate Venture Fund.
“As a purpose-built financial services provider, we are committed to improving resiliency for all Canadians. With Responsive’s productivity tools already running across our entire advisor network, we know that their insights enable advisors to offer data driven solutions that help our clients grow their wealth and secure their financial future.”
Responsive’s Chief Science Officer, Logan Grosenick, is leading the development of the company’s machine learning powered personalization engine. Dr. Grosenick has over 40 articles in engineering, statistics, and neuroscience journals (including Nature, Science, and Cell). At Responsive, Dr. Grosenick uses machine learning to model client financial behaviour so that advisors can take actions that yield the best outcomes for clients.
As part of the partnership, Co-operators will join Responsive’s board of directors.