Total amount raised
$136.4 Million
Latest funding date
2/1/2021
Location
Human Interest has successfully navigated 12 funding rounds, attracting the support of 33 investors, including notable names like TPG and Marshall Wace. The company specializes in providing 401(k) plans tailored for small and medium-sized businesses.
Keep reading to explore the intricacies of Human Interest's fundraising journey and the investors backing this innovative platform.
What Is Human Interest?
Human Interest is a 401(k) provider that assists employees of small and medium-sized businesses in saving for retirement. The company operates in the Employee Benefits, Finance, FinTech, Retirement, and Wealth Management industries.
Based in San Francisco, California, Human Interest has a workforce of 501-1000 employees. While the founding year and founder names are not available, the company has made significant strides in its field.
How Much Funding Has Human Interest Raised?
- Series A
- Amount Raised: USD 12,600,000
- Date: February 2018
- Lead Investors: Wing Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's reach and improve its 401(k) offerings for small and medium-sized businesses.
- Series B
- Amount Raised: USD 15,400,000
- Date: August 2019
- Lead Investors: U.S. Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series C
- Amount Raised: USD 105,000,000
- Date: March 2020
- Lead Investors: Oberndorf Enterprises
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support continued growth and expansion.
- Series D
- Amount Raised: USD 200,000,000
- Date: August 2021
- Lead Investors: The Rise Fund
- Valuation at Round: USD 1,000,000,000
- Motivation Behind the Round: To prepare for an IPO and expand the company's network of integrations and partnerships.
- Private Equity
- Amount Raised: USD 161,000,000
- Date: January 2023
- Lead Investors: BlackRock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance the platform and support strategic growth initiatives.
- Debt Financing
- Amount Raised: USD 25,000,000
- Date: July 2024
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for operational needs.
- Series E
- Amount Raised: USD 242,000,000
- Date: July 2024
- Lead Investors: Baillie Gifford, Marshall Wace
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach.
- Series E
- Amount Raised: USD 50,000,000
- Date: August 2025
- Lead Investors: Morgan Stanley Tactical Value
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's strategic initiatives and product development.
- Series Unknown
- Amount Raised: USD 100,000,000
- Date: October 2025
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the business and enhance service offerings.
Total Amount Raised: USD 910,000,000. Current Valuation: USD 1,000,000,000.
Key Investors
- TPG
- Details: TPG is a global alternative asset firm with a focus on private equity, real estate, and public equity. They have a history of investing in companies across various sectors to drive growth and innovation.
- Investment Focus Areas: Private equity, real estate, public equity.
- Notable Investments: Airbnb, Uber, Spotify.
- Marshall Wace
- Details: Marshall Wace is a leading global alternative investment manager specializing in long/short equity strategies. They are known for their quantitative and fundamental investment approaches.
- Investment Focus Areas: Long/short equity, quantitative strategies, fundamental strategies.
- Notable Investments: Not publicly disclosed.
- BlackRock
- Details: BlackRock is one of the world's largest asset management firms, offering a range of investment and technology services. They manage assets for clients in North and South America, Europe, Asia, Australia, and the Middle East.
- Investment Focus Areas: Asset management, technology services, financial advisory.
- Notable Investments: Apple, Microsoft, Amazon.
- The Rise Fund
- Details: The Rise Fund is TPG’s global impact investing platform, focusing on achieving measurable social and environmental outcomes alongside competitive financial returns.
- Investment Focus Areas: Impact investing, financial health, education.
- Notable Investments: EverFi, DreamBox Learning, Dodla Dairy.
- SoftBank Vision Fund 2
- Details: SoftBank Vision Fund 2 is a venture capital fund managed by SoftBank Group, focusing on technology investments. They aim to support transformative companies that are shaping the future.
- Investment Focus Areas: Technology, innovation, growth-stage companies.
- Notable Investments: Uber, WeWork, ByteDance.
What's Next for Human Interest?
Human Interest stands at the cusp of significant growth opportunities, driven by the increasing demand for simplified 401(k) plans among small and medium-sized businesses. The company’s recent funding rounds have positioned it well to expand its network of integrations and partnerships, particularly in sectors like construction, retail, and hospitality. With a user base already exceeding 100,000, the potential for further market penetration is substantial.
As Human Interest gears up for its planned IPO in 2023, the company is likely to attract additional investment, bolstering its financial position. The goal of reaching $200 million in revenue before going public underscores the ambitious growth targets set by the leadership. However, the path to an IPO is fraught with challenges, including navigating the complex regulatory landscape of the 401(k) market and competing with established financial institutions.
Despite these hurdles, the company’s innovative approach and strong investor backing provide a solid foundation for future success. By continuing to leverage industry trends and focusing on user acquisition, Human Interest is well-positioned to become a major player in the retirement savings space.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Human Interest and gather other critical business insights.
Sign up for free to start unlocking valuable information that can drive your sales success.
