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DLA Piper-advised Earned Wealth announced on Thursday that it received a $200 million growth investment from equity investors while simultaneously unveiling its acquisition of fellow medical professional-focused financial services firm Thomas Doll.

Earned Wealth $200M Funding : Major Investment Boost

The Earned Wealth $200M funding was led by Summit Partners and Silversmith Capital Partners, both advised by Ropes & Gray LLP, and included participation from existing investors Juxtapose, Hudson Structured Capital Management, and Breyer Capital. Earned Wealth is a technology-enabled financial services firm focusing solely on the needs of medical professionals.

Strategic Acquisition

In connection with the Earned Wealth $200M funding, the company announced the acquisition of Thomas Doll to accelerate growth and expand its financial services and offerings.

"Today's announcement represents a critical step on our journey to further transform financial outcomes for these heroes of our society. With the addition of Thomas Doll, we broaden our capabilities and expand into serving medical practices, a key lever of income and wealth for many of our clients," said Earned Wealth founder and CEO John Clendening. "With the support of Summit and Silversmith, we are positioned to accelerate our mergers and acquisitions strategy, drive growth, further invest in our technology and team, and solidify Earned's industry leadership position."

Earned Wealth $200M Funding : Enhanced Service Capabilities

Thomas Doll has rebranded as Thomas Doll, An Earned Wealth Company, according to the statement.

"Together, we share a commitment to serving the needs of healthcare professionals and a belief that a broad range of tailored services will help us improve their overall financial health," said Barry Oliver, Thomas Doll senior adviser.

Earned Wealth's mission is to "redefine" financial services for healthcare professionals by creating a technology-enabled, integrated personal financial management platform that offers wealth, tax, career advisory, insurance, and other services specifically designed for the needs of doctors. The firm's platform combines "deep prognostic technology" with a robust suite of financial services.

Future Growth Plans

The Earned Wealth $200M funding will support the growth of its platform and offerings through product innovation and acquisitions. Darren Black, a managing director at Summit Partners, and Jeff Crisan, a managing partner at Silversmith, have joined Earned Wealth's board of directors.

"Doctors face distinct — and often complex — financial circumstances and opportunities throughout their careers, from residency through retirement. The Earned platform is purpose-built to provide holistic solutions to help optimize for the needs of healthcare professionals," Black said.

"With a singular focus on the needs of healthcare professionals, Earned has quickly become one of the most trusted financial services organizations serving doctors," Crisan added. "The acquisition of Thomas Doll extends the offerings of the Earned platform even further, adding in-house tax planning and retirement programs for doctors."

Earned Wealth $200M Funding : Legal Counsel

The DLA Piper team advising Earned Wealth included partners Alex Plakas, Merrick Doll, and Nate Wilda. Full legal counsel information for the Ropes & Gray team advising the private equity firms was not immediately available Thursday.