Human Interest has reportedly secured $40m in its Series C round which was led by Oberndorf Enterprises.
The company, which provides 401 (k) plans for small and medium-sized businesses, will use the new capital line to grow its reach and its product development, according to a report from Crunchbase. Other uses for the capital will be to develop more regional and national partnerships and hire staff in its product, engineering, and sales and marketing teams.
This Series C round comes hot off the heels of Human Interest’s former round which it closed on $15.4m in August 2019. The round was led by U.S. Venture Partners, with contributions also coming from Wing VC, Uncork Capital and Slow Ventures.
Human Interest helps SMEs and employees improve their retirement plans through automated 401 (k) plans. The plans, which can be integrated with 15 payroll providers,
The platform supports customisation, built-in investment advice and automated daily administration.
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