Spark Advisors raises $25 million
New York-based brokerage Spark Advisors has raised $25 million in a Series B funding round.
Founded in 2020, the company partners with independent agents to deliver a concierge service for navigating retirement benefits. It handles agents’ marketing, sales support, back office, and compliance requirements, and it gives agents a platform for omnichannel client engagement under the Spark Membership, a concierge consumer service that leads to more engaged and retained clients, as well as new referral and cross-sell opportunities. According to the press release, Spark has partnered with 100+ leading agencies serving 3,400+ brokers.
“We couldn’t be more excited to partner with Viewpoint, our lead investor, joined by existing investors American Family Ventures and Primary Venture Partners. Viewpoint’s deep expertise in tech-enabled distribution and conviction in the critical role producers have across many industries make it a natural fit for Spark and our partner agents. We are excited to join Viewpoint’s other category-defining portfolio companies including HealthSherpa (ACA enrollment), PLACE (residential real estate), and Nayya (employee benefits).” – James Jiang, CEO at Spark.