Legal technology firm Trust & Will has raised $25 million in a Series C funding round, bringing its total funding to $75 million. The San Diego-based company, which ranked No. 41 on CNBC’s Disruptor 50 list, is on a mission to modernize the estate planning industry by making it more accessible and affordable.
Trust & Will aims to simplify wealth preservation and asset transfer, combining technology and human expertise to provide legally valid estate planning documents that adhere to state-specific regulations. The newly secured funds will be used to further integrate artificial intelligence, improving how families and financial advisors approach estate planning.
“AI empowers families and advisors to plan with greater confidence and clarity,” said Cody Barbo, co-founder and CEO. “By blending technology with human compassion, we are redefining how people protect and pass on their legacies.”
Key Investors and Valuation Growth
The Series C round was led by Moderne Ventures, with participation from Northwestern Mutual Future Ventures, UBS, and Erie Insurance. While Trust & Will’s last publicly reported valuation in June 2022 was $169 million, the company has since experienced a fivefold increase in valuation from its 2020 Series B round, now estimated to be in the hundreds of millions of dollars.
Trust & Will was founded by two entrepreneurs who recognized a gap in the digital estate planning market. While most financial services—such as banking, taxes, and insurance—are available online, creating a legally sound will typically required costly lawyer consultations or rigid online templates that lacked customization.
Trust & Will’s biggest competitors include LegalZoom and Rocket Lawyer, which offer broader legal services, as well as FreeWill.com, which provides free, basic will templates.
A recent report by Trust & Will revealed a critical gap in estate planning:
- 83% of Americans believe estate planning is important.
- Only 31% have a will, while 55% have no estate plan at all.
To address this issue, Trust & Will has helped hundreds of thousands of families create estate plans and navigate probate. More than one million Americans have used the platform to begin their legacy planning.
Trust & Will operates through direct-to-consumer services and partnerships with major financial institutions such as Bank of America, USAA, and Navy Federal. To boost public awareness, the company has also entered celebrity endorsements and sports sponsorships:
- NFL Super Bowl Champion Matthew Stafford and podcaster Kelly Stafford were recently featured in a national TV campaign.
- Trust & Will is now the official estate planning partner of the Los Angeles Kings (NHL) and San Diego Wave (NWSL).
“Every family should have access to estate planning, and professionals need the right tools to simplify the process while delivering exceptional results,” Barbo emphasized. “This Series C funding represents more than a milestone—it’s a step toward making estate planning a standard service for every family.”
With its AI-driven approach, industry partnerships, and commitment to accessibility, Trust & Will is poised to reshape the estate planning landscape, ensuring that more families can secure their financial legacies with ease.
