Research Engineer

Rowan raises $3.3 million in seed funding round. Rowan, a Chicago-based AI platform for small business succession planning, has secured $3.3 million in seed funding led by DRW. The round will fuel AI tool development, expert service expansion, team growth, and platform scaling to help more owners prepare and execute successful business transitions. Rowan has raised $3.3 million in seed funding led by global trading firm DRW, with participation from Motivate Ventures, Mercury Fund, and angel investor Eddie Lou. The capital will accelerate development of Rowan's proprietary AI tools, expand its suite of expert guided support services, grow the team, and scale platform operations. This funding directly supports enhancements that improve succession readiness for business owners, addressing preparation, valuation, automation, and eventual handoff or sale of their businesses. How Rowan works? Rowan targets the critical gap in small business exits: roughly 80% of small businesses never successfully sell or transition ownership. The platform combines 1:1 expert guidance with AI automation to help owners prepare their businesses for succession. Key offerings include AI agents that organize messy data, surface critical insights, protect built value, and streamline processes like business valuation (with a free instant valuation tool available). It enables owners to grow value, automate operations, reduce reliance on the founder, and execute transitions on their own terms, whether through internal succession, sale, or other exits. This seed round marks an early but decisive step for Rowan in a large, fragmented market driven by demographic shifts, including widespread baby boomer retirements and the resulting wave of potential business transfers. Traditional succession planning is often costly, advisor dependent, and inaccessible for many SMB owners, leading to lost value or failed exits. Rowan's AI first approach lowers barriers by automating routine tasks (data organization, readiness assessments, and operational streamlining) while layering on personalized expert support. This hybrid model positions the company to capture demand for tech enabled exit planning that scales beyond high-end M&A advisory services. Investor participation underscores strategic alignment. DRW's lead role brings deep quantitative and technology expertise from trading, which complements Rowan's AI development focus. Motivate Ventures and Mercury Fund add venture experience in fintech and enterprise software, while Eddie Lou's angel investment reflects targeted belief in the founding team's execution. The round enables Rowan to build infrastructure for higher volume support amid crowded deal flow and retiring owners seeking clarity and control. With the fresh capital, Rowan is poised to iterate rapidly on its AI tools, enhancing features for valuation accuracy, operational automation, and succession outcome prediction, while expanding its team to handle increased demand. This will strengthen its competitive edge in an AI driven shift across SMB services, where platforms that reduce founder dependency and surface hidden value stand to dominate. The timing aligns with broader market tailwinds: rising interest in AI for financial and operational planning, coupled with sustained SMB ownership transitions. The $3.3 million seed infusion validates Rowan's model and provides runway to move from early product traction to broader market penetration. It equips the company to help more owners build and hand off lasting legacies, potentially reshaping how small businesses approach one of their most consequential decisions. Please email Daily Company your feedback and news tips at hello(at)dailycompanynews.com

Crossover Markets has raised $31 million in a Series B round led by Tradeweb Markets, valuing the institutional digital asset trading firm at $200 million. DRW Venture Capital, Illuminate Financial, Ripple, Virtu Financial, Wintermute Ventures and XTX Markets also participated. The company operates CROSSx, one of the industry's first execution-only cryptocurrency electronic communication networks. Since launch, CROSSx has matched over $50 billion in notional trading volume across 12 million trades and supports nearly 100 live participants. Tradeweb plans to provide its global clients access to Crossover's institutional spot crypto liquidity through its algorithmic order-routing technology. The funding will enhance CROSSx's technology stack, expand global operations and deepen integrations with institutional partners. Crossover Markets is headquartered in Wilmington, Delaware.