Human Interest is a digital retirement platform that focuses on small- and medium-sized businesses, enabling them to offer managed 401(k)/403(b) plans with automation in payroll integration, administration, and compliance services. Founded to address the accessibility of retirement savings, the company leverages technology to reduce costs and complexity for both employers and employees. Their solutions enable quick plan setup, automatic data flow, and transparent investment options.
What Is Human Interest and What Does It Do?
Human Interest, founded in 2015, is based in San Francisco (United States). The company offers an employer-enabled retirement planning platform that simplifies the creation, administration, and compliance of retirement plans (401(k), 403(b)) for businesses.
With a workforce of approximately 577 employees, Human Interest offers tools for payroll synchronization, record-keeping, automated compliance testing, employer dashboards, and investment management services for employees. Its platform is designed to make retirement benefits easy to administer, cost-effective and accessible for small to mid-sized companies.
How Much Funding Has Human Interest Raised?
- *Series D* • Amount Raised: $200 M
• Date: August 2021
• Lead Investors: The Rise Fund, Glynn Capital, NewView Capital, others
• Motivation: To scale operations, expand platform capabilities and grow market share.\ - *Series E* • Amount Raised: $267 M
• Date: July 2024
• Lead Investors: Baillie Gifford, Marshall Wace
• Motivation: To further expand market reach, prepare for public readiness and scale infrastructure.
\ - *Funding Round / Conventional Debt* • Amount Raised: $25 M (debt)
• Date: July 2024
• Lead Investors: Baillie Gifford, Marshall Wace
• Motivation: To support growth and operational expansion ahead of potential IPO.
Total Funding Raised: $714 Million
Current Valuation: $1.33 Billion (as of July 17, 2024)
Latest Funding Date: July 2024
Key Investors
- *Glynn Capital* • Details: A growth-stage investment firm focused on technology and financial services.
• Investment Focus Areas: Fintech, growth-stage tech companies.\ - *Baillie Gifford* • Details: Edinburgh-based investment management firm with long-term growth focus.
• Investment Focus Areas: Technology, innovation, growth companies.\ - *Marshall Wace* • Details: Global hedge fund and investment manager, involved in recent funding for Human Interest.
• Investment Focus Areas: Equity markets, private growth equity investments.
Where Is Human Interest’s Headquarters?
Human Interest is headquartered in San Francisco, California, within the U.S. tech and fintech ecosystem, offering proximity to talent, investors, and partner networks that support the growth of its digital retirement platform.
What’s Next for Human Interest?
Human Interest is focused on scaling its platform further, expanding advisory partnerships and preparing for potential public company readiness. They aim to increase market penetration among small and medium businesses, offer enhanced automation in retirement administration, and broaden their ecosystem of payroll and financial advisor integrations.
With its valuation at $1.33 billion and strong growth momentum, the company is positioned to disrupt traditional retirement plan providers and capture a sizable market share in the employer-retirement solutions space.
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