Icon Savings Plan said to raise $3.2m in its funding round

US-based retirement savings platform Icon Savings Plan has reportedly collected $3.2m in its seed round.

The investment was led by DCM Ventures general partner Tom Blaisdell, with contributions also coming from Rethink Impact, TASC Ventures, Kelly Innovation Fund, Portland Seed Fund and Alumni Ventures Group, according to a report from Crunchbase.

This round marks the first investment to be raised by Icon Savings, which was created back in 2018. With the capital, the company is hoping to grow its team of ten by another five before the year is out.

Icon was created to offer a retirement savings plan designed for the modern workforce. The company replaces the 401k plan with a personalised retirement plan, which has automatic payroll contributions, no administration costs, low-flat monthly fees, no employer fiduciary responsibilities and portability between jobs.

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