SAN FRANCISCOAug. 5, 2019 /PRNewswire/ — human interestthe fast-growing, affordable, automated 401(k) provider that now serves more than 35,000 people who manage their retirement savings on the platform, today announced it has raised $15.4 million. The Series B round is led by US Venture Partnerswith the participation of existing investors Wing CV, Unclog the capitaland Slow businessesamong others.

The financial services startup will use the new investment to accelerate the company’s mission to empower small and medium employers and help their employees achieve a secure financial future. “We are looking for companies that have the potential to create great markets by taking advantage of societal disruption and change. Human interest brings retirement benefits to more than 40 million American workers who currently do not have them. And this is at a time when there is a growing understanding that personal savings are a key part of any long-term planning,” said Steve KrauszUSVP General Associate and Human Interests Board Member.

With this new funding, Human Interest will dramatically expand its reach: grow to serve hundreds of thousands of users across tens of thousands of companies and grow to billions of dollars in assets under management. The funding will also accelerate the growth of existing and new partnerships, including those with benefits brokers, financial advisors and technology partners. Now made up of around 70 employees, the team has grown by 50% year-over-year and will continue to grow as the company plans to open new offices over the next 12 months.

“We are fortunate to be in a market that reaches nearly half of the U.S. workforce and where we have seen extremely strong product-market fit. We are focused on accelerating distribution and reaching millions of American workers as quickly as possible,” said Jeff SchnebleCEO.

In conjunction with the round, Marc Goines, vice president of Personal Capital, will join the board of directors of Human Interest. Mark brings more than 35 years of experience in financial services and technology, including previous roles managing Intuit’s consumer business and as vice president of product at Schwab. “Since 401(k) plans became popular in the 1980s, they have primarily benefited employees of large corporations,” said Marc Goines. “Small employers are now, more than ever, including pension plans as part of their core benefits package, and Human Interest is perfectly positioned to meet this demand.”

Human Interest offers the first truly digital 401(k) with the robust, user-friendly features that small and medium businesses (and their employees) want in a retirement savings plan: transparent and affordable pricing; seamless integration with over Top 15 Payroll Providers; integrated and customizable investment advice (provided through Human Interest Advisors); and automated day-to-day administration, including compliance and record keeping services.

Steve Krausz of the USVP added, “We also seek companies with a clear technical moat, and Human Interest has built the technology stack that creates the modern digital 401(k) experience. This encompasses complex backend infrastructure, such as holding records, compliance, and automation administration that enables them to cost-effectively serve SMB-scale customers with the highest level of satisfaction.”

A third of private sector workers don’t have access to a 401(k), and thousands more have lost their retirement savings to high, predatory fees or confusing language from older, traditional 401(k) providers. In contrast, Human Interest prides itself on operating as a fiduciary, which means that the best interests of clients come first. Unlike other 401(k) providers, Human Interest receives no kickbacks from the investments they recommend. Additionally, Human Interest clients benefit from access to high-quality retirement savings plans: its clients see a 70% participation rate among eligible employees, with up to 93% participation for clients who offer automatic enrollment and employer correspondence.

“We’ve been encouraged by the range of clients across the country who have flocked to Human Interest, from small businesses that have never offered a retirement savings plan, to mid-sized companies looking to transition from an expensive traditional 401(k) provider,” said Roger Lee, co-founder and product manager. “We call ourselves Human Interest because we’re human-centric, and we want to work with other companies that are as well,” Lee said.

Increasingly, American business leaders are looking to make meaningful investments in their employees, and the financial well-being of their employees is a priority. Three in five of the top sources of employee financial stress are related to retirement. Human Interest seeks to help Americans, especially those in small and medium businesses, prepare for retirement and reduce their risk of future financial insecurity.

About human interest

Based at San Francisco, California, human interest offers online, affordable, automated and easy-to-use 401(k) forms for small and medium businesses with customizable features and built-in investment advice for employees (provided by human interest advisors). Human Interest is proud to serve more than 35,000 employees in companies across all industries across United States, including companies setting up their first 401(k) as well as those changing providers. The company, founded in 2015 from the Y Combinator summer batch, proudly offers transparent pricing and operates as a fiduciary, which means it puts the interests of its customers first. For more information, please visit

This is not an offer, solicitation or advice to buy or sell securities in jurisdictions where Human Interest Advisors is not registered. An investor should consider investment objectives, risks and expenses before investing. More information is available in the ADV of Human Interest. There are risks associated with investing. Investors should consider all of their assets, income and investments. Portfolios are subject to change. All opinions and findings included in this publication constitute the judgment of human interests advisors as of the date of this publication and are subject to change without notice.

About US Venture Partners

US Venture Partners (USVP) is a leading Silicon Valley venture capital firm that partners with entrepreneurs to turn their ideas into world-changing companies. USVP has invested in over 400 companies over three decades including: Box, Castlight Health, Check Point Software, Concur, GoPro, Guidewire Software, Hellosign, Heartflow, HotelTonight, Imperva,, Inspire Medical, Intersect ENT, Omada Health , Prevoty, SanDisk, Sun Microsystems, Trunk Club, Threatmetrix, Trusteer, Yammer and Zerto. USVP focuses on early-stage startups that are transforming cybersecurity, enterprise software, consumer mobile and e-commerce, and healthcare. The USVP team is comprised of former entrepreneurs, technologists, business executives, and finance professionals who contribute to strategy, scale, team building, product development and business development. The USVP is based in Menlo Park, California. More information can be found at

CONTACT: Erin McInrue Savage, [email protected]855-622-7824

SOURCE Human interest

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