Brightside, a financial care platform, has closed its Series A round on $35.1m, to support the growth of its customer base.
The investment was led by Andreessen Horowitz, with contributions also coming from Comcast Ventures and Trinity Ventures.
With the equity backing, the company will look to reach more employers and employees.
Brightside claims that financial stress costs employers nearly $4,000 per employee each year. The FinTech helps employers to improve the financial health of their work staff by giving a single destination for employees to address financial health needs.
a16z general partner Alex Rampell said, “Brightside is creating a new way to improve the financial health of working families, at a time when this endeavour is mission-critical to the future of our country.
“Employers are uniquely motivated and positioned to improve employee financial health, during business-as-usual and especially during times of economic crisis, but need a single platform that simply curates and integrates the myriad of point solutions in a way that really works for employees. With Brightside’s experienced management team and their unique approach of human navigation and tech, the opportunity to meaningfully improve families’ lives is tremendous. ”
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