Retirement platform Guideline raises $200 million
CA-based Guideline has closed a $200 million round of funding led by General Atlantic. Existing investors Generation Investment Management, Greyhound Capital, Felicis Ventures, Propel Ventures, and others also participated.
Founded in 2015, Guideline provides retirement plan solutions for small-and-medium-sized businesses (SMBs). Its platform offers a broad menu of self-service options for both employers and employees and has been used by over 20,000 companies. In addition to its offering of traditional 401(k) plans, Guideline supports self-employed individuals through Simplified Employee Pension Plan (SEP) IRAs.
“We founded Guideline with the mission to better serve small business owners and their employees by transforming access to retirement savings plans . We are proud of our significant growth over the past six years as we have worked to modernize a legacy component of the U.S. economic system and ensure retirement planning is accessible to all. We are excited to draw upon General Atlantic’s deep expertise at the intersection of technology and financial services as we continue to empower businesses and their employees to plan for the future.” – Kevin Busque, Co-founder and CEO of Guideline.
“Guideline is uniquely positioned as a modern, digital-first solution for small and mid-size employers who have been traditionally underserved by legacy providers. The Guideline team deeply understands the needs of its client base, offering a holistic platform that allows employers to seamlessly provide retirement benefits and enables employees to begin building retirement savings. We admire Guideline’s transparent approach and believe the business is poised to expand as it scales its platform and offerings. We look forward to partnering with Kevin and the Guideline team in this new phase of the business’ growth.” – Aaron Goldman, Managing Director and Global Co-Head of Financial Services at General Atlantic.