Press Release

IRALOGIX Completes $7.5 Million Series B Financing

Issued by IRALOGIX

Dec. 10, 2020

The investment propels IRALOGIX platform and capacity to help financial institutions offer high quality IRA products and services to everyone, regardless of account size.

Pittsburgh, PA: IRALOGIX, Inc. announces that it has completed a $7.5 million Series B financing led by Great North Labs, with participation from Trog Hawley Capital, Riverfront Ventures, and Circadian Ventures. IRALOGIX is a unique, cloud-native technology platform providing paperless, white label IRA product capability to financial services firms. The company’s modular offerings enable partners to rapidly launch profitable IRA programs with no account minimums while leveraging institutionally priced investments as well as professional advice and education.

David Bernard, IRALOGIX’s CEO, put the capital raise in context, “With this investment, we’ll be able to accelerate our efforts to help our partners provide greater service, high-quality institutional investments, and personal advice, all at a lower cost than has been available. That’s a game changer and it comes at a critical time when IRA providers, Wealth Managers, Advisors, Banks, Brokerage firms, Mutual Funds, Affinity groups, and Investment providers are all seeking new ways to generate revenue, expand market share and strengthen competitiveness. This underscores why we were successful achieving this additional funding even in a challenging economic environment.” 

“We invest in excellent management as much as we do excellent ideas,” added Circadian Ventures’ Founding Partner, Mike Dowdle. “The company’s leaders are both successful fintech start-up innovators and seasoned retirement industry executives. They’ve spent their careers dealing with the very problems IRALOGIX now solves. That was a compelling rationale for us to make an investment in their success.” 

Ryan Weber, Great North Lab’s Managing Partner added, “Legacy technology available today just isn’t designed to provide flexible, cost-efficient, easy-to-deploy solutions for IRA providers. IRALOGIX enables industry partners the opportunity to bring truly differentiating offerings to the market.” 

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