Aboon

Aboon is a US-based, AI-powered third-party administrator (TPA) for workplace retirement plans, built to let financial advisors design, sell, launch and administer 401(k) plans for their business-owner clients. The platform generates tailored plan designs and proposals — including side-by-side comparisons of options such as traditional 401(k), Safe Harbor 401(k) and Safe Harbor 401(k) with profit sharing, with tax-savings illustrations and employee benefit comparisons — in minutes rather than days or weeks. It then carries the plan through digital data collection (employee census, ownership, company details, payroll, eligibility), digital contracting and plan documents, and onboarding with a recordkeeper.

After launch, Aboon provides ongoing plan administration: annual compliance testing, government filings, contribution processing, activity monitoring and optional 3(16) administration services, delivered through digital workflows supplemented by dedicated human plan consultants and retirement plan specialists. The company positions the human layer as a core pillar alongside the automation, assigning a dedicated plan consultant to help advisors integrate the platform into their practice.

The company frames the addressable problem as the manual, paperwork-heavy nature of the incumbent TPA process, which its CEO said typically takes 10 to 12 weeks to bring a plan live; Aboon's stated goal is to compress that to a day. Cited market drivers include Pew research that 43% of businesses with fewer than 100 employees offer no workplace retirement plan and retirement-plan mandates now in place in more than 20 states.

Founding story

Nick Gavronsky and Amy Ouellette founded Aboon in 2023. Gavronsky said part of his inspiration came from his father, who emigrated from South Africa after running small businesses there, started businesses again in the US, but was never able to offer his employees a retirement plan because of the complexity and cost. Gavronsky also said the company was created after observing how difficult it was for advisors to offer retirement plans and how many businesses were consequently left without one. The name is a play on words, intended to read as "a boon" for advisors and their business-owner clients. Gavronsky is a serial entrepreneur — Aboon is the third company he has helped found, after co-founding Trade Coffee and Welcome — and was an early employee at Betterment, where he spent almost three years, departing in 2016 as a senior product manager working on growth initiatives; he also led data and AI product teams at BambooHR. Ouellette spent her career in retirement plan administration and brings technical expertise and industry relationships.

Business model

Aboon operates as a third-party administrator (TPA) that distributes through financial advisors rather than selling directly to business owners. Advisors use the platform to prospect, design, sell, launch and manage 401(k) plans for their business-owner clients; Aboon handles plan design, compliance testing, government filings, contribution processing and 3(16) administration services, while the plan assets remain with a separate recordkeeper. The CEO stated explicitly that the company is not going directly to business owners and that partnering with advisors is its distribution model. Aboon also states it provides comprehensive cost quotes for advisors and clients and pairs software with a dedicated plan consultant for each relationship.

Not disclosed in the available sources. Aboon operates as a third-party administrator providing plan design, administration, compliance and 3(16) fiduciary administration services, and states it provides comprehensive cost quotes to advisors and clients, but no pricing or fee structure is specified.

Traction

The company states on its website that it is trusted by 40,000 advisors nationwide and has saved more than 11,200 days of work for them. At the October 2025 funding announcement, press reported the platform was available to tens of thousands of advisors, including those at Edward Jones, with integrations to Capital Group, Empower and Manulife John Hancock. Leadership is described as having administered thousands of plans. No revenue, plan count or assets figures are disclosed.

Latest developments

In October 2025 Aboon emerged publicly with a $17.5 million seed round led by Bain Capital Ventures, with Altai Ventures, Runyon, Edward Jones Ventures, Outpost Ventures and EJF Ventures participating. The company said proceeds would fund further automation and digital capability development, an expanded range of supported retirement products, and deeper partnerships with advisory firms and recordkeepers nationwide. Bain Capital Ventures partner Matt Harris said the next generation of retirement infrastructure would be advisor-led, tech-enabled and AI-powered. Aboon's website, dated 2026, cites 40,000 advisors and more than 11,200 days of work saved, and lists Edward Jones announcements among its press mentions. Gavronsky was named to Wealth Management's "Ten to Watch in 2026" list.