Human Interest Raises $40M Series C To Close Retirement Savings Gap for SMBs
Human Interest creates an easy system for small businesses to offer a 401(k) to employees. Through Human Interest, small businesses can remain competitive with larger businesses in their benefits offerings. Moreover, Human Interest financially empowers employees in their lifelong savings journeys.
“The vast majority of our customers are getting a 401(k) for the first time,” co-founder Roger Lee said. “Our very first few customers were tech startups in the Bay Area, and that made a lot of sense for us to start. But we always believed the problem we were tackling was much bigger than bay area startups. In general I think the positive surprise has been seeing interest beyond tech earlier than expected. That was always our hope and belief but it was encouraging when it did start happening, it happened sooner than we expected.”
Soma invested in the initial seed round. Human Interest has since raised $40m from Oberndorf Enterprises at a $300m valuation.