Aboon Secures $17.5 Million for AI-Driven 401(k) Platform

Aboon, an AI-driven FinTech platform, has secured $17.5 million in seed funding to revolutionize the design and management of 401(k) plans for business owners.

The funding round was led by Bain Capital Ventures, with participation from Altai Ventures, Runyon, Edward Jones Ventures, Outpost Ventures, and EJF Ventures.

Founded in 2023 by Nick Gavronsky and Amy Ouellette, Aboon provides a modern digital third-party administration (TPA) platform that enables financial advisors to efficiently create and manage retirement plans. The platform integrates AI-driven automation, intuitive workflows, and real-time expert support, allowing advisors to design and launch 401(k) plans within minutes, a process that traditionally takes weeks.

The newly acquired capital will be utilized to enhance Aboon’s automation capabilities, broaden its product offerings, and strengthen integrations with advisory firms across the United States.

The company has already established partnerships with leading firms such as Edward Jones and major recordkeepers including Capital Group, Empower, and Manulife John Hancock to expedite adoption.

Bain Capital Ventures partner Matt Harris commented, "Aboon is addressing a significant pain point in an underserved yet crucial industry. We believe the future of retirement infrastructure will be advisor-led, tech-enabled, and AI-powered. Aboon has developed the right product at the right time, providing a modern operating system for advisors to bring retirement plans to market with unprecedented speed, clarity, and scale."