New Chief Growth Officer and $1.45M Funding Top-up Has Us Excited for 2023

Since entering the market in 2019, we have received a very positive response from the wealth management industry, quickly grown our team size and continued to develop our product to make financial service professionals, like yourself, happier and more productive. 2022 was no exception, and to continue the momentum, we are excited to announce that we have hired JD Davis, MBA, who will be joining the company’s executive leadership team in the newly created role of Chief Growth Officer. 

Davis brings with him considerable experience in the financial services industry, having previously served as co-founder, partner and Director of Business Development at FormulaFolio Investments, LLC., a Grand Rapids, Michigan-based advisory firm. During his tenure at FormulaFolio Investments, Davis oversaw the design and launch of a turnkey asset management program, which led to an increase in the firm’s assets under management from approximately $40 million to nearly $1 billion within 20 months. 

“I’m excited to be part of this amazing team. I believe Hubly will revolutionize the way advisors scale their firms. In my experience, I have rarely seen technologies like Hubly that can truly transform an advisor’s practice overnight, and allow them to become more efficient and productive,” Davis said.

Davis has a long history with Hubly, having sat on our advisory board for over two years. 

“JD has been in our corner since the earliest days of Hubly – his deep experience in technology and business strategy will be invaluable as we continue on our growth journey. I am beyond excited to have him contribute to Hubly’s growth in a full time capacity,” said Hubly co-founder and CEO, Louis Retief.

The addition of Davis comes at an exciting time, as we have just completed a successful USD $1.45M financing round, complementing an initial investment of USD $1.3 million, which was completed in November 2021. Mucker Capital and OCA Ventures led the initial investment; they are joined by Cascade Investment, LLC for this portion of the round. 

“We are thrilled to support this next chapter in Hubly's growth and welcome the addition of JD Davis to the team. JD has been a friend of mine for several years, and it's easy to see why he's an excellent fit for Hubly,” OCA Ventures’ Steve Shein said. 

Since November 2021, we have increased recurring revenue by 185% and grown our team from eight to 21 full-time employees. With the addition of Davis to the team and the completion of the financing round, we are well-positioned to continue our rapid growth and achieve our mission of helping advisors scale their firms.

“We have been tracking the dynamics of the wealth management industry and we believe that Hubly is well suited to deliver further efficiency and functionality to the space,” Shein added. “Louis and the team are customer-centric leaders with meticulous command of the data. They consistently exceed their targets and our expectations.”

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