Income Lab raises $1.25 million

Income Lab , a Colorado-based provider of financial planning software for advisors, has raised $1.25 million from two investors toward a $2.5 million offering, according to an SEC filing dated October 21.

Founded in 2018, Income Lab helps advisors model retirement income, taxes, account withdrawals and Social Security decisions. Its platform also supports annuity planning and cash value life insurance, including whole life, universal life, indexed universal life and variable policies.

The company offers AI tools that turn existing documents, meeting transcripts and client questionnaires into draft financial plans for advisor review. Its Pro offering includes Penny, an AI paraplanner, and tools that identify planning opportunities across an advisor’s client base.

LinkedIn lists 48 employees, up 32% over the past year.