US-based retirement plan provider Human Interest secured $200m in series D funding yesterday featuring internet and telecommunications firm SoftBank’s Vision Fund 2 at a $1bn valuation.
The Rise Fund, an impact investing vehicle for private equity firm TPG, led the round, which included Crosslink Capital and returning investors including NewView Capital, Glynn Capital, US Venture Partners, Wing Venture Capital, Uncork Capital, Slow Capital and Susa Ventures.
A graduate of startup accelerator Y Combinator’s summer 2015 batch and formerly called Captain401, Human Interest helps small and medium-sized enterprises offer their employees a 401(k) plan, an employer-sponsored pension account in the United States commonly associated with large corporations.
Human Interest CEO Jeff Schneble said: “Sales have tripled over the last year. Our priority with this funding is to fulfil customer demand by advancing our product and dramatically scaling our team.”
The company had closed a $105m series C round in February 2021, completing a $55m extension led by Glynn Capital and backed by NewView Capital, which came nine months after a $10m second tranche also led by Glynn Capital and an Oberndorf Enterprises-led $40m first close in March the same year.
US Venture Partners led $15.4m series B round in mid-2019, investing alongside Wing VC, Uncork Capital and Slow Ventures.
Wing VC and Adam Nash had co-led an $11m series A round the previous year, which counted contributions from returning backers Y Combinator, Uncork Capital, SV Angel, CrunchFund, Slow Ventures, Susa Ventures, FundersClub and multiple individuals.
