A modern, paperless 401(k) provider for small businesses and startups
Human Interest wants to help every startup worker get a 401k. And with new capital in hand it’s on its way to accomplishing that. The San Francisco-based financial services startup announced today that it has raised $15.4 million dollars in a Series B led by U.S. Venture Partners. Wing VC, Uncork Capital, and Slow Ventures also participated in the round. Human Interest was founded by Roger Lee and Paul Sawaya as part of the Y Combinator Summer 2015 batch.
Companies use Captain401 to set up a 401(k) plan for their employees online through a couple of simple steps. After that, the ongoing administration pulls data from HR software like Gusto and Intuit, and the service automatically manages investments for employees through index funds like those from Vanguard.
Captain401 Inc. has raised $3.5 million in seed funding to help small businesses and startups give their employees retirement savings help similar to that of larger and deeper-pocketed employers.
Captain401, a service that helps small businesses set up a 401k, is launching out of Y Combinator today. The goal of Captain401 is to make managing 401ks as simple as other services are for other functions within companies — and in a more digitally focused manner like Zenefits or Zenpayroll.