Pontera raises $60M in latest funding round

Fintech company Pontera has secured $60 million in a funding round led by ICONIQ Growth to bolster its suite of 401(k) management offerings.

Founded in 2012 and formerly known as FeeX before an early 2022 rebrand, Pontera creates software tools that help advisors trade and rebalance clients' 401(k)s, 403(b)s, 457s, variable annuities and 529s with a complete view of all of their clients' investments.

After more than quadrupling revenue since its last fundraise announced in February 2022, Pontera welcomed ICONIQ Growth as a new investor in an up round with additional participation from prior investors Blumberg Capital, Collaborative Fund, Hanaco Ventures, Lightspeed Venture Partners and The Founders Kitchen.

This latest investment raises Pontera's total funding to $160 million.

"This funding is not just an investment in Pontera; it's an investment in the future of every U.S. worker striving for a secure and fulfilling retirement," Yoav Zurel, CEO of Pontera, said in a statement. "We are proud to partner with investors who recognize the nation's looming retirement crisis and Pontera's role in helping everyday families." 

The latest funding round wraps a busy Q4 for the firm. In early October, Pontera announced a deal to provide access to its solutions to Savant's network of independent, fee-only RIAs. Thousands of financial advisors are now leveraging Pontera's platform to overcome operational hurdles to securely and compliantly manage 401(k), 403(b) and other retirement plan assets as a critical part of their clients' wealth.

A collaboration with Dynasty Financial Partners also represents a significant achievement in Pontera's journey since its last funding round. Other notable new relationships include Benjamin Edwards, OneDigital and Wealthspire. 

In that time, Pontera has also launched new platform integrations with wealth management platforms Addepar, Envestnet and Morningstar.

"It's one of those rare moments in time where if you implement a new capability everyone wins, from the client to the advisor," Shirl Penney, president and CEO of Dynasty Financial Partners, said in a statement.