A new milestoneThere’s excitement today at Human Interest HQ as we announce a new round of funding! We’ve closed on our Series B so that we can better serve America’s small and medium-sized businesses, helping them provide modern 401(k) plans to their employees. In this round, we are grateful to be partnering with U.S. Venture Partners, and have continued participation from investors at Wing VC, Uncork Capital, and Slow Ventures.
From helping 35,000 to helping millionsWe’ve grown a lot since our company’s founding at Y Combinator by Roger Lee and Paul Sawaya. Today, we are proud to serve as the 401(k) provider for more than 35,000 people across the country. With this new investment, we’ll be focused on expanding to help millions of working Americans reach a financially secure retirement. Our customers are benefitting from access to retirement savings plans that work: 70% of eligible employees participate, up to 93% for customers that offer automatic enrollment and an employer match.
We’re called Human Interest because we’re human-centered…At Human Interest, we like that we stand out from our industry. We take pride in operating as a fiduciary and putting customers’ best interests first and, unlike other 401(k) providers, we don’t take kickbacks from any investments we recommend. We see that our product is helping people invest in their financial future—many who weren’t saving for retirement but now, through our 401(k) and 403(b) plans, are saving for retirement for the first time.
…and we want to work with other businesses who are, tooIncreasingly, America’s business leaders are seeking to make meaningful investments in their employees. We hear from human-centered employers across the country that they are looking for benefits that can help their employees, especially on topics related to developing long-term financial wellness. And, again and again, we hear from employees that financial security in retirement is top of mind for them:
- Three in five of employees’ top sources of financial stress are related to retirement.
- 88% of workers say a 401(k) is a must-have when they’re looking for a new job.
- Roughly 4 in 10 Millennials consider 401(k) retirement benefits extremely important when looking for a job.