Human Interest raises $40 million

Human Interest, a retirement plan provider for SMBs, announced a $40 million Series C round just seven months after raising a $15.4 million Series B. The round was led by Oberndorf Enterprises LLC, which brings Human Interest’s total equity raised to ~$70 million since its inception in 2015.

Headquartered in San Francisco, Human Interest offers a digital retirement benefits platform that allows companies to launch a full-service 401(k) and put it on autopilot “in minutes.” After the set up and customization, Human Interest sends an email to employees asking them to sign up, and after they do, they can find details about the plan, check balances, set up contributions, initiate rollovers, and take advantage of built-in investing.

In addition to working directly with businesses, Human Interest also works with benefits brokers, CPAs, financial advisers and payroll providers, and it currently provides retirement savings plans to over 2,200 companies and more than 100,000 employees.

“We’re committed to helping close the retirement savings gap. Retirement remains one of the largest unsolved problems in this country. We’ve built a modern financial services platform, tailored to the needs of SMBs, and with more resources to grow our reach, Human Interest will bring fundamental wealth-building benefits to tens of millions of American workers who have been ignored by the old financial guard.” – Jeff Schneble, CEO of Human Interest.