Latest news with #Alix
Yahoo
5 days ago
- Business
- Yahoo
Chime backer Lauren Kolodny bets on AI to revolutionize estate processing
Lauren Kolodny, a partner at Acrew Capital, has always championed technology's power to democratize access to financial services for everyday people. When the fledgling neobank Chime struggled to convince investors in 2016 that it could build a large business serving the working class, Kolodny was the only VC out of a 100 Chime pitched who agreed to back the company, stepping in with a $9 million Series A extension when it was nearly out of money. That bet paid off big time. Last month, Chime went public at a $14.5 billion valuation. Kolodny, who appeared on the Forbes Midas list three years in a row, is still passionate about investing in tech solutions that help consumers maximize their resources. She recently led a $20 million Series A investment in Alix, a startup that leverages AI to automate the estate settlement process. Alix's founder, Alexandra Mysoor, realized the burden of executing a family estate after she offered to help her best friend settle her late mother's affairs. Mysoor told TechCrunch that it took her 900 hours and 18 months to complete tasks such as calling the bank to transfer assets, locating all the 401Ks, cancelling accounts, and distributing assets among family members. 'I was shocked that this process was so hard,' Mysoor said. 'It's paper-driven. It's archaic. You're googling to-do lists that are not helpful. You're calling attorneys who might do a sliver of the work, and they cost thousands and thousands of dollars.' That experience gave Mysoor the idea that some of the most labor-intensive aspects of trust administration, including scanning and extracting data from documents, pre-populating complex forms, and communications with banks, can now be handled by AI agents. When Kolodny met Mysoor and learned about the problem Alix was addressing, the issue resonated so deeply with the Midas List investor that she couldn't get it out of her mind. Kolodny realized that even though economists are estimating that trillions of dollars will transfer to millennial and Gen Z generations over the next two decades, the paperwork surrounding estate settlement largely remains a burden on those grieving the loss of their parents. While some startups like Empathy provide assistance with closing accounts as part of their bereavement support, Kolodny discovered that no companies offered comprehensive, start-to-finish estate settlement services. 'How is it possible that there's this messy problem that involves so much project management that there aren't even meaningful services around?' Kolodny told TechCrunch. 'It was this real aha moment for me. This is exactly the kind of problem that AI should be solving.' Kolodny said that she believes Alix is among the first of many startups powered by AI that will democratize financial services and administrative processes, which were historically available only to the ultra-wealthy. Alix's fee structure is 1% of an estate's value. However, for inheritances under $1 million, customers can expect to pay between $9,000 and $12,000, with the exact cost determined by the complexity of the estate.
TechCrunch
5 days ago
- Business
- TechCrunch
Chime backer Lauren Kolodny bets on AI to revolutionize estate processing
Lauren Kolodny, a partner at Acrew Capital, has always championed technology's power to democratize access to financial services for everyday people. When the fledgling neobank Chime struggled to convince investors in 2016 that it could build a large business serving the working class, Kolodny was the only VC out of a 100 Chime pitched who agreed to back the company, stepping in with a $9 million Series A extension when it was nearly out of money. That bet paid off big time. Last month, Chime went public at a $14.5 billion valuation. Kolodny, who appeared on the Forbes Midas list three years in a row, is still passionate about investing in tech solutions that help consumers maximize their resources. She recently led a $20 million Series A investment in Alix, a startup that leverages AI to automate the estate settlement process. Alix's founder, Alexandra Mysoor, realized the burden of executing a family estate after she offered to help her best friend settle her late mother's affairs. Mysoor told TechCrunch that it took her 900 hours and 18 months to complete tasks such as calling the bank to transfer assets, locating all the 401Ks, cancelling accounts, and distributing assets among family members. 'I was shocked that this process was so hard,' Mysoor said. 'It's paper-driven. It's archaic. You're googling to-do lists that are not helpful. You're calling attorneys who might do a sliver of the work, and they cost thousands and thousands of dollars.' Techcrunch event Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. San Francisco | REGISTER NOW That experience gave Mysoor the idea that some of the most labor-intensive aspects of trust administration, including scanning and extracting data from documents, pre-populating complex forms, and communications with banks, can now be handled by AI agents. When Kolodny met Mysoor and learned about the problem Alix was addressing, the issue resonated so deeply with the Midas List investor that she couldn't get it out of her mind. Kolodny realized that even though economists are estimating that trillions of dollars will transfer to millennial and Gen Z generations over the next two decades, the paperwork surrounding estate settlement largely remains a burden on those grieving the loss of their parents. While some startups like Empathy provide assistance with closing accounts as part of their bereavement support, Kolodny discovered that no companies offered comprehensive, start-to-finish estate settlement services. 'How is it possible that there's this messy problem that involves so much project management that there aren't even meaningful services around?' Kolodny told TechCrunch. 'It was this real aha moment for me. This is exactly the kind of problem that AI should be solving.' Kolodny said that she believes Alix is among the first of many startups powered by AI that will democratize financial services and administrative processes, which were historically available only to the ultra-wealthy. Alix's fee structure is 1% of an estate's value. However, for inheritances under $1 million, customers can expect to pay between $9,000 and $12,000, with the exact cost determined by the complexity of the estate.
USA Today
6 days ago
- Entertainment
- USA Today
How to get out of a reading slump: Try one of these 8 page-turner books
Like the common cold, the reading slump and its symptoms will come to us all eventually. The pages don't turn as fast as they used to. The characters don't feel as relatable. The plots don't hit the same. You don't have motivation to pick up your book at all. If this is you, the dreaded reading slump has arrived. It could be because you read a book so good nothing else compares. Or, on the flipside, your last book was so bad – too slow, too predictable, too unbelievable – you're hesitant to take a chance on another title. Whatever the cause, we've got a prescription. These books have something for everyone – old and new reads spanning fiction and nonfiction, from thriller to romance to memoir. What they all have is inventive plots, intriguing characters and twists sure to keep you glued to the page. 'None of This is True' by Lisa Jewell 'None of This is True' is my go-to slump-buster. This twisty thriller follows a woman who finds herself the subject of her own true crime podcast. Alix Summers, a popular podcaster, meets the unassuming Josie Fair, a woman on the cusp of changing her life, who wants to be the next subject of Alix's series. When she agrees, Alix unravels Josie's strange, confusing and dark past. 'Yellowface' by R.F. Kuang Propulsive, chilling and darkly comedic, 'Yellowface' is about a white author co-opting an Asian American author's work and passing it off as her own. Floundering writer June Hayward is jealous of her friend Athena Liu, a literary darling. When Athena dies in a freak accident, June steals her barely finished manuscript and turns it into her editor. What follows is a web of lies, cultural appropriation and ethnically ambiguous author profiles, scandals and secrets. 'First-Time Caller' by B.K. Borison Romance readers should pick up this 'Sleepless in Seattle'-inspired love story to get back in the groove. 'First-Time Caller' follows Aiden Valentine, a jaded romance hotline radio host, and Lucie Stone, a single mom and romantic whose well-meaning daughter calls into the show asking for dating advice for her mom. 'Sharp Objects' by Gillian Flynn Any Gillian Flynn thriller makes for a good reading slump cure. Flynn's writing is fast-paced and compulsively readable, and 'Sharp Objects' will have you staying up until you turn the last shocking page. This thriller is about a reporter, fresh out of a psych hospital, returning to her small hometown and complicated family to cover the murders of two preteen girls. 'Educated' by Tara Westover 'Educated' is a memoir you won't be able to put down, and follows one woman's journey from a sheltered, religious survivalist family to a Ph.D. at Cambridge University. It grapples with narcissistic parenting, a strict Mormon upbringing and the deeply ingrained distrust in medicine and education Westover had to unlearn on her own. Some of Westover's stories will horrify, others are heart-wrenching and all will leave you with a compassionate view of her search for liberation. 'Legendborn' by Tracy Deonn Looking for a new fantasy series to get you hooked? Check out 'Legendborn.' This first novel follows Bree Matthews, a 16-year-old looking to escape her grief while at a residential program for gifted high schoolers. But when she witnesses a magical attack on her first night – a flying demon and a secret society of students hunting the creatures – she unlocks her own magic. Now, she'll have to infiltrate the secret Legendborn society and use her powers to face the truth about her mother's death. 'The God of the Woods' by Liz Moore This mystery may be on the longer side at nearly 500 pages, but it's thoroughly unputdownable. 'The God of the Woods' opens on a camp counselor discovering a 13-year-old camper is missing. To complicate matters, the young girl is also the daughter of the camp's wealthy owners, and her tragedy is eerily similar to her brother's cold case disappearance over a decade ago. 'Seven Days in June' by Tia Williams In 'Seven Days in June,' two lauded authors have a chance encounter at a New York panel of Black literati 20 years after they spent a week madly in the throes of teenage love. Over the next seven days, Eva and Shane reconnect and rehash the passionate romance of their youth. But can Eva trust the man who once broke her heart? Williams' contemporary romance explores modern motherhood, chronic pain and second-chance romance. Clare Mulroy is USA TODAY's Books Reporter, where she covers buzzy releases, chats with authors and dives into the culture of reading. Find her on Instagram, subscribe to our weekly Books newsletter or tell her what you're reading at cmulroy@
Yahoo
21-07-2025
- Business
- Yahoo
Alix Secures $20M Series A to Transform Estate Settlement
New financing from Acrew, Charles Schwab, and Edward Jones Ventures will bolster the company's AI strategy and supercharge growth SAN FRANCISCO, July 21, 2025--(BUSINESS WIRE)--Alix, a first-of-its-kind wealth transfer platform, today announced a $20 million Series A funding round from Acrew Capital, Charles Schwab and Edward Jones Ventures*. Existing investors Initialized Capital, Scribble, Magnify, Ziegler Link•age Funds, and Cameron Ventures also participated in the oversubscribed Series A round. This additional funding will support the company's growth strategy, bringing the power of AI-enabled estate settlement to more families in need. "In just two years we've grown Alix from a concept to a category-creator. Now we're ready to turn our attention to scaling our business for even greater impact," said Alexandra Mysoor, CEO and Co-founder, Alix. "The support of these leading investors validates our vision to become families' intergenerational wealth management partner and empowers us to strategically support a relatively untapped market of families seeking a better way to settle estates after losing a loved one." Alix is the first and only automated wealth transfer solution designed to simplify the estate settlement process. With today's announcement, Alix has now raised a total of $30.65M. To date the company has been focused on demonstrating proof of concept, customer acquisition and brand awareness, and setting up its partnership infrastructure that brings Alix into distribution partners throughout the US. The new financing will supercharge its agentic AI strategy, enabling Alix to scale its product and onboard new executors faster, create a more seamless experience for customers and build new integrations that further connect estate settlement to the rest of the financial value chain. Additionally, Alix will expand its workforce, adding new AI-focused product and engineering talent, and strengthening its sales teams. Alix is also opening a San Francisco office to capitalize on the Bay Area's primacy in AI, driving the company's product development and innovation goals this year. "Alix has grown in parallel with the tremendous evolution of AI, allowing us to leverage the latest capabilities in the technology to reengineer estate settlement in a way that wasn't possible two years ago," said Hugh Tamassia, co-founder and CTO, Alix. "Our AI-powered system eliminates delays, cuts through bureaucracy, and identifies and distributes assets with speed and precision. Today, we're unlocking millions trapped in slow, outdated processes and are striving towards more advanced capabilities every day. As we continue to build this category, we believe automated estate settlement can become a foundational layer of the future of finance." "We're especially excited to partner with the team at Alix, a company that's taking a bold swing at reimagining the intersection of AI and fintech – two industries that have the power to transform how people settle estates and legacies," said Lauren Kolodny, cofounder, Acrew Capital – Alix's lead investor in this Series A round. Kolodny, who has been named to the Forbes Midas List for three consecutive years, continued, "We believe in the work Alix is doing to create a new category, bringing long-overdue innovation to the wealth settlement space." As the nearly $124T Great Wealth Transfer continues over the next two decades, services like Alix will become more critical. The burden of managing an estate currently takes 12-18 months and up to 900 hours following someone's death. Alix has cracked the code for how to simplify this inherently complex process by providing an AI and automation-assisted partner that guides executors from start to finish. Alix is future-proofing wealth management strategies for the next generation. "Our investment in Alix underscores our commitment to advancing innovation that benefits clients across the wealth management spectrum," said Barry Metzger, Managing Director, Income & Wealth Solutions at Charles Schwab. "Alix blends AI technology with empathetic human expertise to guide and support clients through the estate settlement process – improving efficiency without losing the human touch." "Edward Jones is dedicated to helping our clients prepare for life's transitions, including the complexities of estate settlement," said Greg Robinson, Principal, Edward Jones. "Alix's focus on preserving and protecting wealth for future generations aligns with our ambition to serve more clients, more completely as families navigate the largest intergenerational wealth transfer in history." In addition to bolstering its AI strategy, Alix will leverage the new financing to grow awareness of the product through investments in marketing and business development, as well as continue to enhance its customer experience to make it easier for families to navigate estate settlement. To help the Alix team steer its vision, today Alix is also announcing two new board appointments: Lauren Kolodny from Acrew Capital and Andrew Sather from Initialized Capital. For more information about Alix, please visit About Alix Alix is the first and only automated wealth transfer solution designed to simplify the estate settlement process. We combine leading-edge AI technology with empathetic human experts to deliver peace of mind and time back to families when they need it most. Built by the most experienced professionals in the estate settlement industry, Alix uses a mind+machine approach to guide families through every step of the estate settlement journey and easily connect them with the tools, resources, and partners they need to manage and retain their wealth effectively now and for future generations. Learn more at *Edward Jones Ventures invests via JFCA LLC, an affiliate of Edward Jones View source version on Contacts Olu Solankemedia@
San Francisco Chronicle
17-07-2025
- Entertainment
- San Francisco Chronicle
Book Review: 'Royal Gambit' by Daniel O'Malley finds magic in the murder of a royal family member
Author Daniel O'Malley returns to the world of his series he started with 'The Rook' with 'Royal Gambit,' an enjoyable and sometimes unwieldy novel about the supernatural operatives of a paranormal secret service investigating a string of bizarre murders. Gambit centers around the aristocratic Lady Alexandra Mondegreen (Alix) and her investigation into the mysterious murder of her childhood friend, the Prince of Wales. Alix has the unique talent of being able to shatter bones with just a touch of her hand, but she is resented by the other members of the service for the perceived favoritism that comes with her noble title. Her youth was spent as a secret bodyguard to Princess Louise, the woman who now finds herself next in line to the throne. This connection proves useful as the agency's way into investigating who at the palace (or outside of it) could be responsible for the death of the heir apparent and gives Alix a chance to prove her worth as an asset to the agency. O'Malley finds humor in showing how these agents with strange and sometimes absurd powers (one senior official can turn into a stegosaurus at will) adhere to the same bureaucracy and hierarchies as any other government organization. Along with coming to work on time and navigating office politics, there is a chance you will be the victim of a dinosaur stampede or watch your colleague turn into a tree. Alix also emerges as a compelling heroine, driven by her ambition to rise within the ranks of the Checquy and prove herself, yet deeply committed to uncovering the truth behind the tragedy that struck a family she has genuine affection for. A highlight of the book is her sometimes awkward, but humorous journey as a new lady-in-waiting to the princess, having to balance garden lunches with dangerous missions. Although intended as a stand-alone story, O'Malley assumes readers will quickly grasp the complexities of this world and how it operates without much prior knowledge. However, keeping track of the extensive rules and traditions of this secret service and upper-crust English society makes it difficult to keep engaged in the mystery at hand. The book gets bogged down in its mythology and is slow to give us plot developments. Further challenging the pacing of the novel are the constant additions to an over-large cast of characters, all with different supernatural abilities or aristocratic titles. All of these elements lead to a clunky conclusion that too easily ties up loose ends and loses the impact of the tragedy that started the story. The book would have benefited from more clever twists and paranormal action, as opposed to heavy exposition about this super-secret agency and the people who run it. Ultimately, this makes for a fun, elevated beach read for those who enjoy their mystery novels with supernatural leanings and a dry British sense of humor.
