Luminary Raises 22 Million to Build AI Data Layer for Estate Planning and Wealth Transfer

Luminary, a New York-based startup that converts estate planning documents into structured data for financial advisors, closed a 22 million dollar Series A funding round on September 10, 2026. Ten Coves Capital, a growth-equity firm specializing in fintech and B2B software, led the round.

Returning investors including Thrive Capital, Industry Ventures, Canvas Prime, Index Ventures, House Fund, Euclidean Capital, and Alumni Ventures also participated. BNY joined as a strategic investor. The round brings Luminary's total funding to approximately 32 million dollars.

The company was founded in 2022 by CEO David Barnard. Its platform uses human-in-the-loop AI to transform static estate planning documents, such as wills, trusts, and business agreements, into structured, source-verified data. Financial advisors, trust companies, law firms, and accounting firms use the platform for tax modeling, scenario analysis, and ongoing estate administration.

Key platform features include Luminary Insights, which identifies planning opportunities and missing documentation; Estate 360, which generates automated firm-branded overviews from uploaded documents; a Deterministic Tax Engine for federal, state, inheritance, and asset tax calculations; and Estate Waterfall, which visualizes legacy planning scenarios.

As of September 2026, the platform supports more than 500 billion dollars in assets. The company reported that its advisor base has doubled over the past year and that it has brought on more than 4 billion dollars in recruited assets in 2026 alone. Luminary is on track to reach 100 million dollars in annual recurring revenue by the end of 2026, up from 10 million dollars in January 2025.

The new capital will fund expansion of the platform's AI capabilities, growth of its administration workflows, and hiring of technical talent.