Zocks has raised $45 million in Series B funding, boosting its total to $65 million. This round was co-led by Lightspeed Venture Partners and QED Investors, with participation from several existing investors including Motive Partners and Expanse Venture Partners. The funding will support the company’s initiative to enhance its AI platform designed for financial advisors.
The platform automates complex tasks, saving advisors over ten hours each week, while also transforming conversations into structured data. Currently, more than 5,000 firms utilize Zocks, including Ameritas and Carson Group. Zocks aims to introduce new enterprise features, improve compliance tools, and expand integrations with existing software systems.
As the financial advisory sector anticipates a shortage of 100,000 advisors by 2034, Zocks addresses significant operational challenges faced by advisors. A report indicates that 83 percent of advisors cite limited time as a barrier to implementing referral strategies. Mark Gilbert, CEO of Zocks, highlighted the platform's role in meeting evolving client expectations for personalized advice.