Magnify Ventures Closes $46.6 Million Fund to Automate Care

The firm’s pivot toward applied AI marks a shift from early-stage platform building to the deployment of agentic tools designed to reduce domestic labor and modernize financial systems. Co-founders Julie Wroblewski and Joanna Drake argue that the $648 billion care sector has remained stagnant for decades, creating a prime opening for technologies that automate estate settlement, digital security, and personalized care guidance. The new capital adds to a growing wave of investment in the space, which has seen over $26 billion deployed across 700 companies since 2015.

Magnify Ventures intends to use the fund to support founders like those at Alix and Savi Security, who are tackling specific pain points such as the 900-hour administrative burden of estate transfers and the rising costs of digital fraud. Beyond direct financing, the firm continues to anchor the sector through its Care Summit, slated for February 2027 in San Francisco, intended to bridge the gap between emerging tech founders and institutional investors. By focusing on the intersection of caregiving and infrastructure, the firm seeks to prove that family-centric innovation offers a competitive edge that transcends traditional market boundaries.