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Employee Benefits Financial Services FinTech North America Retirement Wealth Management

Human Interest raises $200M at a $1B valuation, plans for an IPO

– SMB 401(k) provider Human Interest raised $200m in a round of funding.
– The round was led by Rise Fund and joined by SoftBank Vision Fund 2.
– The financing included participation from new investor Crosslink Capital and existing backers.
– The company has now raised a total of $336.7m since its 2015 inception.
– It plans to IPO in 2023.

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FinTech Freelance Health Insurance Insurance North America Personal Finance Retirement Wealth Management

Catch takes hold of $12M to provide benefits that aren’t tied to employers

– Catch, a health insurance and retirement savings company, raised $12m in Series A funding.
– The round was led by Crosslink and joined by earlier investors Khosla Ventures, NYCA Partners, Kindred Ventures and Urban Innovation Fund.
– The company plans to use the funding to increase its headcount to service those partnerships and go after more.

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Finance Financial Services FinTech North America Retirement Software

Vestwell Raises $70M in Series C Funding

– Vestwell, a NYC-based API technology platform for workplace savings and investing programs, raised $70m in Series C financing.
– The round was led by Wells Fargo Strategic Capital and Fin Venture Capital co-led by Goldman Sachs, Morgan Stanley, Manulife, Point72, Nationwide Ventures, Allianz Life Ventures, Northwestern Mutual, FinTech Collective, Greenspring Associates, Primary Venture Partners, Teamworthy Ventures, F-Prime Capital, Industry Ventures, and Commerce Ventures.
– The company intends to use the funds to further expand the team, platform functionality, and servicing for its thousands of partners and clients.

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Consulting Financial Services North America Personal Finance Retirement

Edelman Financial Engines Announces Investment From Warburg Pincus LLC

– Edelman Financial Engines (“the Company” or “firm”), the nation’s top independent financial planning and investment management firm, along with lead investor Hellman & Friedman, a premier private equity firm focused on making large-scale equity investments in high-quality growth businesses, today announced a strategic investment from Warburg Pincus, a preeminent global private equity firm focused on growth investing, which will become a minority equity owner and Michael Martin, Managing Director, will join the Company’s Board of Directors.
– The investment values the Company at $7.3 billion and is expected to close in the second quarter 2021.

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Employee Benefits North America Retirement

Spark Advisors Raises $3.6M in Funding

– Spark Advisors from NYC provides a technology-enabled brokerage to help independent agents deliver a concierge service for navigating retirement benefits.
– The company raised $3.6m in funding.
– The round was led by Primary Ventures with participation from Vine Ventures and Torch Capital.
– The new funding will be aimed at recruiting hundreds of new agents and expanding the company’s consumer roadmap into more health and personal finance support areas while adding to its suite of agent tools.

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Employee Benefits Financial Services FinTech North America Retirement Wealth Management

Human Interest Receives $105M Series C

– Human Interest, a SMB 401(k) provider that makes it easy for small and medium-sized businesses to help their employees save for retirement, has completed a $105m Series C investment round.
– The round was led by Glynn Capital, an existing investor, with participation by new investor NewView Capital.
– The additional financing brings the round to $105M and Human Interest’s total funding to $136.7M.

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Advice Financial Services North America Retirement

Capitalize, a startup that wants to make it easy to roll over your 401(k), closes on $12.5M Series A

– Capitalize, a startup that wants to make it easy to roll over your 401(k), closes on $12.5M Series A.
– The round was led by Canapi Ventures and joined by existing backers including Bling Capital, Greycroft, RRE Ventures and Walkabout Ventures.
– The company aims to address this very problem with a platform that it claims makes it virtually painless to locate misplaced 401(k) accounts, select and open individual retirement accounts (IRAs) and consolidate retirement plans – for free.

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