Seed round · 2026

Everyone built a system of record. BTree is the layer above.

A large market that software has ignored in the middle, a founder who has run it for twenty years, and a working engine to show for it.

Why now

This could not have been built before — and won’t stay open long.

2024–25

The intelligence arrived

Language models can finally read messy, multi-format financial data and draft work. Before, integration meant rigid pipelines — which is why everyone built systems of record.

2026

The containment arrived

Agent-security runtimes — sandboxed, credential-guarded, policy-gated — make it possible to let software act near family money under strict rules.

20 years

The operator arrived

The people who understand this problem don’t found startups, and founders don’t understand it. Two decades inside family-office operations is the map.

Addepar, Eton and Masttro are adding AI to their own silos — but their business is being the database. A neutral layer above all of them runs against their incentives.

The market

The wedge is complexity, not headcount.

Enterprise platforms serve institutions at the top; consumer tools track net worth at the bottom. Nobody serves the family with ten entities and no CTO. BTree enters through established family offices, where budgets and urgency exist, then moves down-market on the same system.

Single-family offices

10,000+

Globally, and growing (est.)

Assets they manage

$5.5T+

Worldwide (est.)

Complexity-defined families

10–100×

More of them than formal family offices

Competitive landscape

Whitespace between every silo.

Category	Players	What they are	What they miss
Enterprise family-office platforms	Eton, SEI Archway, Masttro	Deep systems of record for institutions	Costly and closed; no cross-system answers
Portfolio and reporting	Addepar, Arch, Aleta	Investment aggregation and analytics	Investments only — not operations or entities
Accounting and AP	Sage Intacct, BILL, AgilLink	Books, bill pay, approvals	One system’s view; people do the connecting
Wealth trackers	Kubera, Vyzer, X1	Consumer net-worth dashboards	No workflows, no controls, no audit trail
BTree	—	A layer above the stack, not another database to migrate into	The complexity-defined middle market, with approvals and audit built in

Model and roadmap

Land with answers, expand into operations.

Premium SaaS priced per family or per office, anchored to the staff time it replaces, with expansion as connectors, entities and workflows grow. Regulated activity — payments, payroll, tax coordination — only later, once trust and distribution are earned.

Now

Investor demo and design partners

A working demo on BTree’s real engine; converting family-office design partners into pilot commitments.

MVP — depth over breadth

Three workflows done exceptionally well: sourced answers, budget variance explained, approval-gated invoice drafting.

Then

Connectors and Private Office

API and vendor-assisted connectors across the stack; the down-market Private Office on the same system.

Revenue path (illustrative)

A clear path from customers to $100M.

The year-three target, before expansion revenue from added entities, connectors and workflows.

BTree Office

$6.0M ARR

100 family offices at $60K a year on average — 1% of the 10,000+ worldwide.

BTree Private Office

$4.5M ARR

250 complexity-defined families at $18K a year, through adviser and CPA channels.

Year three

~$10.5M ARR

At a 10× revenue multiple, a $100M+ valuation. Vertical AI and fintech SaaS has commanded 10–15× in recent rounds.

Use of funds

The first $6M: product, and the trust that sells it.

Over half of every dollar goes to product and the trust infrastructure that makes it sellable.

Product and engineering	Five to six senior engineers: the three MVP workflows, the canonical data schema and the first connectors.	$2.6M	43%
Marketing and brand	Category positioning, thought leadership, industry events and demand in the family-office channel.	$1.0M	17%
Security and trust infrastructure	The secure agent runtime, local-model hardware, independent security assessment and the audit architecture.	$800K	13%
Design partners and go-to-market	An implementation lead; onboarding three to five design-partner family offices and converting pilots to paid.	$700K	12%
Legal, compliance and operations	Contracts, data-privacy counsel, insurance, and staying clearly outside regulated activity.	$400K	7%
Reserve	For the integrations and hires that always cost more than planned.	$500K	8%

The ask

Raising a seed round to ship the MVP.

Ship the MVP with three to five design-partner family offices

Build the core connectors and the canonical data layer

Stand up the secured agent execution runtime

Reach pilot revenue and a repeatable sales motion

Talk to Heather See the demo