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HomeFunding UT-based 401GO Secures $12Million in Series A Funding

[Funding alert] UT-based 401GO Secures $12Million in Series A Funding

401GO, the next-generation retirement plan provider for employers, advisors and individuals, secures $12million in series A funding, led by Next Frontier Capital.

401GO, the next-generation retirement plan provider for employers, advisors and individuals, secures $12million in series A funding, led by Next Frontier Capital.

Additional investors include Rally Ventures, who joined existing investors Impression Ventures, and Stout Street Capital that participated in the new investment.

The latest capital infusion will fuel the next stage of the company’s growth and advance its mission to enhance retirement savings through its innovative blend of advanced technological solutions with a high-touch, advisor-based model.

Read also – CA-based Anvilogic Secures $45Million in Series C Round Funding

In addition to bolstering its existing 401(k) and IRA platforms, 401GO will be enhancing and adding capabilities to its embedded financial wellness platform, as well as setting a roadmap to launch new products, such as Health Savings Accounts (HSAs) and Emergency Savings Accounts (ESAs), over the next 12-24 months.

Read also – CA-based Anvilogic Secures $45Million in Series C Round Funding

Founded in 2019, it has seen steady growth since its inception, averaging 250% year-over-year revenue growth over the last three years. Today the company serves more than 2,500 businesses, totaling more than 30,000 active users.

In November 2023, it launched GO-IRA, an IRA offering that allows for a hassle-free rollover of 401(k) investments within the 401GO platform, improving portability of retirement savings for employees who switch employers.

Daniel Beck, Co-Founder and CEO of 401GO said: “This new funding underscores the confidence our valued investors have in 401GO’s strategic vision and execution, as well as its dedication to reshaping the retirement savings industry through a combination of cutting-edge technology and personalized service. Building a modern platform from the ground up that would enable businesses of any size to offer a retirement plan has been a challenging and arduous task. We didn’t cut corners or dress up old legacy tech, which takes more time and patience. Fortunately, we’ve aligned with investors that appreciate our unique approach and sustainable growth model and with these funds, we’ll be able to scale our already strong growth.”

Richard Harjes, Co-Founder and General Partner of Next Frontier Capital agrees: “We have followed 401GO for a couple years now, and are excited about the efficient way they are working to serve the millions of Americans working in small to mid-sized businesses with historically low access to employer-based retirement benefits. 401GO has architected an innovative technical solution with great customer support and quick on-boarding, while retaining 401k plan sophistication and the flexibility to work with independent financial advisors offering rich investment options. Recent regulatory changes, including 2022’s Secure 2.0 legislation, encourage more firms to offer 401k plans and play to 401GO’s strengths. Next Frontier Capital is proud to support Daniel and the 401GO team in their mission to improve the retirement outlook of its customers.”

About 401GO

401GO is a leading fintech company dedicated to revolutionizing the way individuals save for retirement. Through its innovative blend of cutting-edge technology and personalized human support, the company is empowering individuals to secure their financial futures with confidence.

With a commitment to empowering individuals to secure their financial futures, 401GO stands out in the competitive fintech sector by offering a unique approach that marries advanced technological solutions with a high-touch, advisor-based model.

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