Aboon Secures $17.5M in seed funding to Redefine Retirement Plan Management for Advisors
- ashton0536
- 4 days ago
- 1 min read
Aboon, an artificial intelligence-powered third-party administrator built for financial advisors, has raised $17.5 million in seed funding led by Bain Capital Ventures, with participation from Altai Ventures, Runyon, Edward Jones Ventures, Outpost Ventures, and EJF Ventures.
Founded in 2023 by CEO Nick Gavronsky and COO Amy Ouellette, Aboon’s platform streamlines how advisors help business-owner clients design, launch, and manage 401(k) plans. By automating plan setup, pricing, participant onboarding, and compliance, the firm reduces what can be a months-long process to as little as a day, while integrating with record keepers such as Capital Group, Empower, and Manulife John Hancock.
The company’s growth comes as the U.S. enters “Peak 65,” when a record number of Americans reach retirement age each year. With more small businesses seeking cost-effective retirement options, Aboon’s advisor-focused model positions firms to meet rising demand efficiently and at scale.