Aboon, a US-based fintech startup using artificial intelligence to reinvent the way financial advisors design and manage retirement plans, has secured $17.5 million in seed funding.

The round was led by Bain Capital Ventures, with participation from Altai Ventures, Runyon, Edward Jones Ventures, Outpost Ventures, and EJF Ventures. The significant backing reflects growing investor conviction that retirement infrastructure in the US is overdue for a digital and AI-driven overhaul.

A Modern Operating System for 401(k) Plans

Founded in 2023 by Nick Gavronsky and Amy Ouellette, Aboon has built what it describes as a next-generation digital third-party administration (TPA) platform. The solution empowers financial advisors to efficiently create and manage 401(k) plans for business owners — a task that has traditionally been slow, complex, and heavily paper-based.

Instead of weeks of back-and-forth using legacy systems, Aboon’s AI-powered automation and intuitive workflows allow advisors to design and launch tailored retirement plans in minutes. The platform also includes real-time expert support, ensuring compliance and accuracy while reducing administrative overhead.

Scaling With Strategic Partnerships

Aboon is not only attracting investor interest but also gaining early traction with major industry players. The company has already forged partnerships with advisory giant Edward Jones and integrated with several leading recordkeepers, including Capital Group, Empower, and Manulife John Hancock.

These partnerships are expected to accelerate adoption across the US advisory ecosystem, where thousands of small businesses remain underserved by traditional retirement plan providers.

Fueling Growth with Fresh Capital

The $17.5 million seed round will enable Aboon to:

• Enhance its AI automation capabilities to make plan creation even faster and more accurate

• Expand its product range beyond 401(k) plans into adjacent retirement solutions

• Strengthen integrations with advisory firms and recordkeepers to streamline workflows end-to-end

The broader goal is to position Aboon as a modern operating system for advisors, giving them the tools to better serve small and midsize businesses while expanding retirement plan coverage nationwide.

Executive Insights

Nick Gavronsky, CEO and co-founder of Aboon, explained the mission:
“We built Aboon because we saw how hard it was for advisors to offer retirement plans, and how many businesses were left behind as a result. Every American worker deserves a clear path to retirement. The best way to achieve that is by empowering the trusted advisors who already support business owners. Aboon puts the right tools directly in their hands.”

From the investor side, Matt Harris, partner at Bain Capital Ventures, emphasized why Aboon stood out:
“Aboon is solving a huge pain point in an underserved but critical industry. The next generation of retirement infrastructure will be advisor-led, tech-enabled, and powered by AI. Aboon has built the right product at exactly the right time, delivering a modern operating system for advisors to bring retirement plans to market with speed, clarity, and scale.”

The Bigger Picture

The US retirement industry is worth trillions of dollars, yet many small businesses lack access to efficient and affordable 401(k) plans. By lowering barriers for advisors and leveraging AI, Aboon is positioning itself at the center of a structural shift in retirement planning infrastructure.

With strong financial backing, early adoption by major players, and a mission tied to solving a nationwide gap, Aboon now faces the challenge — and opportunity — of scaling its vision across one of the most vital sectors of financial services.