
Total amount raised
$136.4 Millions
Latest funding date
February, 2021

Location
Human Interest has successfully raised $267 million over multiple funding rounds, achieving a valuation of $1.33 billion. The company specializes in providing 401(k) retirement 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, founded in 2015 by Paul Sawaya and Roger Lee, is based in San Francisco, California. The company specializes in providing 401(k) retirement plans tailored for small and medium-sized businesses.
With a focus on solving administrative and compliance issues, Human Interest offers a range of customizable retirement plans, investment options, and financial education resources. Their end-to-end technology simplifies the process for businesses.
Currently, Human Interest employs between 501 and 1000 people, helping thousands of businesses across America offer retirement accounts to their employees.
How Much Funding Has Human Interest Raised?
- Seed Round
- Amount Raised: $3.6M
- Date: February 2016
- Lead Investors: SV Angel, Uncork Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial product offerings.
- Series A
- Amount Raised: $12.6M
- Date: February 2018
- Lead Investors: Wing Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Series B
- Amount Raised: $15.4M
- Date: August 2019
- Lead Investors: U.S. Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market penetration.
- Series C
- Amount Raised: $105M
- Date: March 2020
- Lead Investors: Oberndorf Enterprises
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and prepare for future expansion.
- Series D
- Amount Raised: $200M
- Date: August 2021
- Lead Investors: The Rise Fund
- Valuation at Round: $1B
- Motivation Behind the Round: To prepare for an IPO and expand service offerings.
- Private Equity Round
- Amount Raised: $161M
- Date: January 2023
- Lead Investors: BlackRock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic growth initiatives and enhance product development.
- Debt Financing
- Amount Raised: $25M
- Date: July 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for operational needs.
- Series E
- Amount Raised: $242M
- Date: July 2024
- Lead Investors: Baillie Gifford, Marshall Wace
- Valuation at Round: $1.33B
- Motivation Behind the Round: To expand 401(k) services and introduce new offerings like a DOL Audit Defense Service.
Total Amount Raised: $764.6M. Current Valuation: $1.33B.
Key Investors
- Baillie Gifford
- Details: Baillie Gifford is an investment management firm based in Edinburgh, Scotland. They are known for their long-term growth investment strategy.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: Tesla, Amazon, Alibaba.
- Marshall Wace
- Details: Marshall Wace is a London-based hedge fund. They specialize in equity long/short strategies and quantitative investing.
- Investment Focus Areas: Equity long/short strategies, quantitative investing.
- Notable Investments: Various public and private companies across different sectors.
- BlackRock
- Details: BlackRock is the world's largest asset manager, headquartered in New York City. They manage a broad range of investment products.
- Investment Focus Areas: Equities, fixed income, alternative investments.
- Notable Investments: Apple, Microsoft, Google.
- The Rise Fund
- Details: The Rise Fund is a global impact investing fund managed by TPG. They focus on investments that deliver measurable social and environmental impact.
- Investment Focus Areas: Education, energy, healthcare, technology.
- Notable Investments: EverFi, DreamBox Learning, Duolingo.
- Oberndorf Enterprises
- Details: Oberndorf Enterprises is a private investment firm. They focus on long-term investments in various sectors.
- Investment Focus Areas: Education, healthcare, technology.
- Notable Investments: Various private companies in the education and healthcare sectors.
What's Next for Human Interest?
Human Interest stands at the cusp of a significant opportunity, aiming to revolutionize the 401(k) market for small and medium-sized businesses. With a largely untapped market, the company is poised to attract not only smaller enterprises but also larger organizations seeking to simplify their retirement plans. The potential for growth is immense, as the demand for accessible and straightforward retirement solutions continues to rise.
Future fundraising efforts, including a planned IPO, are on the horizon as Human Interest targets over $200 million in revenue. This financial milestone will be crucial for their public offering, providing the capital needed to expand their services and enhance their technology. However, the path forward is not without challenges. Navigating the complex regulatory landscape and competing with established 401(k) providers will require strategic planning and robust execution.
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