Zeplyn Raises $3M to Streamline Meetings for Wealth Managers with its AI Assistant – AlleyWatch

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Within the wealth administration {industry}, monetary advisors face a crucial problem: spending extreme time on administrative duties as a substitute of specializing in consumer relationships and strategic recommendation. The statistics paint a transparent image – whereas 60% of consumer knowledge gathering occurs throughout conferences, lower than 25% of those interactions are correctly documented as a result of time-consuming nature of handbook note-taking and follow-up work. Zeplyn, based by former Google engineers with experience in AI and speech recognition, has emerged to sort out this industry-wide downside. Its AI-powered Assembly Assistant transforms unstructured consumer conversations into extremely correct notes, capturing monetary particulars, objectives, and motion gadgets whereas streamlining your entire assembly course of from prep to follow-up. By automating these administrative burdens whereas sustaining compliance necessities, Zeplyn saves monetary advisors an estimated 10-12 hours per week – time that may be higher used on servicing consumer relationships and enterprise development.

AlleyWatch caught up with Zeplyn CEO and Cofounder Period Jain to study extra concerning the enterprise, the corporate’s strategic plans, current spherical of funding, and far, way more…

Who had been your traders and the way a lot did you increase?We raised $3M in seed funding, led by Leo Capital. Our traders had been Leo Capital, Converge and numerous angel traders.

Inform us concerning the services or products that Zeplyn presents.

Zeplyn Assembly Assistant, our flagship product, is designed particularly for monetary advisors and wealth administration companies. It takes unstructured consumer conversations and turns them into extremely correct notes, capturing consumer monetary particulars, objectives and targets, key dialogue factors, and motion gadgets. That is one space the place our AI actually shines.In reality, one in every of our prospects, who spent a major period of time testing and coaching different AI options, advised us that no different device understood her agency’s acronyms and will summarize the complexities of their monetary planning conversations. She advised us, “I didn’t suppose AI was wherever near with the ability to do it, till we discovered Zeplyn.”Zepkyn Assembly Assistant additionally streamlines assembly prep, note-taking, and post-meeting workflows whereas fulfilling compliance necessities, saving monetary advisors a mean of 10-12 hours per week.

What impressed the beginning of Zeplyn?

My cofounder Divam Jain and I met at Google, the place we spent years constructing AI for Search, Voice Assistant, and speech recognition merchandise. Enthusiastic about the opportunity of utilizing our experience to reimagine how monetary advisors work, we began Zeplyn.

My introduction to the wealth administration {industry} got here by way of my classmates at Harvard Enterprise College, who’ve labored at companies comparable to Morgan Stanley, and the varsity’s alumni community, lots of whom had been operating their very own RIA practices. In digging deeper into the area, I discovered that the consumer assembly course of is likely one of the costliest actions for a wealth administration agency. Advisors spend hours per day documenting consumer conferences and executing post-meeting follow-up duties. We additionally discovered that 60% of consumer knowledge gathering occurs over conferences, but lower than 25% of consumer conferences are correctly documented due to the time-consuming nature of this course of. The antiquated handbook processes had been a giant downside, one we might resolve by introducing AI.Passionate concerning the potential of AI to rework workflows for monetary advisors, my cofounder and I got down to develop a gathering assistant that will assist automate the tedious however essential sections of the method: assembly admin duties and fulfilling regulatory reporting necessities. In doing so, we freed up wealth administration professionals to deal with the human ingredient and ship higher outcomes for his or her shoppers.

How is Zeplyn completely different?

Zeplyn is a extremely correct end-to-end AI resolution that streamlines your entire assembly course of: assembly prep, note-taking, process administration, and follow-ups. Constructed for monetary advisors and educated to know the wealth administration context, Zeplyn Assembly Assistant delivers extremely correct, post-meeting structured summaries, making it a dependable device for documenting consumer interactions. It additionally meets the distinctive workflow necessities and safety and compliance requirements of the {industry}, and it may be used throughout video assembly platforms, in-person conferences, and dictations. Zeplyn integrates with current infrastructure and the advisor expertise stack with ease.

What market does Zeplyn goal and the way massive is it?

Zeplyn serves the wealth administration market, together with RIAs, brokerages, and household workplaces. The market is experiencing vital development and transformation, and we’re proud to be supporting it.

What’s your corporation mannequin?

Zeplyn is offered for any sized RIA and brokerage, with pricing plans for the person advisor, multi-advisor groups, and enterprise deployments. Advisor Assistant licenses are additionally out there. Zeplyn presents seat-based pricing, with the flexibleness to decide on between month-to-month and annual subscriptions.

What are the largest challenges that you simply confronted whereas elevating capital?

We had an excellent expertise, truthfully. After we had been assembly with Leo Capital and Converge, we did our analysis and ready an in depth pitch deck that spoke to our choices, the product-market match, and the way it aligned with their respective portfolios. I do know it’s been a tricky 12 months for funding in tech, however we consider in our mission, and it was nice to search out VCs that consider in it as effectively.There are just a few key issues to bear in mind when attempting to safe funding, no matter exterior financial situations:

Know your market. What are the ache factors? What are the gaps? How will your organization slot in?
Collect as a lot validation and as many proof factors as you possibly can at your present stage. Fast buyer acquisition? Main {industry} gamers vouching for the impression of your product? Statistics that again up your product thesis? Ensure you’re presenting these factors succinctly and speaking your worth.
Know your viewers. If you’re doing VC outreach, ensure you perceive their current portfolio, their funding thesis, and the place you slot in. In the event you’re planning to pitch a VC that completely invests in a single {industry}, for example, ensure you have a related product that’s sufficiently differentiated from their current investments.

What components about your corporation led your traders to put in writing the test?

Early-stage traders care loads concerning the power of the founding crew. At Zeplyn, we’ve constructed a powerful basis. Our product and go-to-market groups carry a mix of experience throughout AI, wealth administration, and enterprise SaaS. Our founding crew contains engineers who carry greater than a decade of foundational AI, machine studying, and software program engineering expertise from main tech giants comparable to Google, and seasoned wealth administration professionals with greater than 20 years of expertise constructing advisory platforms at prime brokerage companies comparable to Merrill Lynch and LPL Monetary.

This distinctive mixture of technical excellence and {industry} experience equips us with a profound understanding of the wealth administration sector’s complexities and the challenges our customers face. Our crew’s capabilities permit us to design and ship sturdy, high-performing, and user-centric options that straight tackle these ache factors, inspiring investor confidence in our imaginative and prescient and execution.What are the milestones you intend to realize within the subsequent six months?

Over the subsequent a number of months, we’re going to be centered on just a few initiatives:

Person acquisition: Zeplyn has acquired a heat response and has grown three-fold within the final three months. We’re onboarding new advisors each week, largely by way of natural channels. We’re investing in gross sales and advertising, and we’re planning to develop our buyer base whereas persevering with to ship dependable and time-saving AI.
Technological development: Our purpose is to carry an AI-native perspective to wealth administration, rebuilding the {industry} and addressing crucial wants. Zeplyn is dedicated to reimagining the monetary advisor expertise, prime to backside. We’ve already launched new ranges of effectivity and consumer intelligence with Zeplyn Assembly Assistant, and now we have no plans of stopping there. Our imaginative and prescient is to construct a full stack workflow automation resolution for monetary advisors that additionally handles refined and sophisticated wealth administration workflows, serving as a single supply of fact.
Group growth: We’ll develop our product, engineering, gross sales, and advertising groups.

The place do you see the corporate going within the close to time period?

Zeplyn Assembly Assistant is our first product, and we’re constructing in direction of a full-stack workflow automation resolution that may deeply combine with advisor expertise and instruments to streamline different advanced wealth administration workflows— past consumer conferences.With Assembly Assistant, we’ve solved for an enormous hole in consumer knowledge gathering in conferences. Now that advisors can seize full and correct consumer knowledge, they’ll leverage it to reinforce not simply their downstream workflows but in addition the general consumer expertise. We’re actually excited concerning the alternatives the information will unlock for advisors.

What’s your favourite fall vacation spot in and across the metropolis?

It’s touristy, however within the metropolis, Central Park is breathtaking all 12 months spherical. It hosts all kinds of wonders, from artwork distributors to concert events and performances to hidden gardens. There’s all the time one thing new to do and uncover, or when you simply wish to sit and loosen up, you are able to do that too.Farther afield, Beacon is value a visit. It’s an excellent little metropolis with artwork galleries, nature, and historical past. Particularly, the Storm King Artwork Middle hosts artworks that push the boundaries of their medium. It’s an enormous outside artwork museum, and it’s particularly beautiful in fall.Within the Catskills, Woodstock is a good retreat in fall. There are climbing trails that may take you into nature, and it’s a enjoyable city to discover, with artwork galleries, retreats, and quirky retailers that maintain the spirit of the Sixties Woodstock and “Peace, Love and Music” alive.