Human Interest builds digital retirement platform for SMBs, closes $40M Series C

Human Interest was founded in 2015 to address the retirement savings gap for small and medium‑sized businesses, which historically struggled to offer 401(k) plans due to high setup costs and administrative burden.

In 2020 the company closed a $40 million Series C led by Oberndorf Enterprises, bringing total funding to over $75 million and enabling the launch of a digital platform that lets employers create a retirement plan in minutes and put it on autopilot.

By leveraging software to replace manual processes, Human Interest cut plan costs by 50‑70 %, achieved a 93 % participation rate when using recommended settings, and grew to serve over 2,200 companies and 100,000 employees while moving toward profitability.

After the $40M Series C, Human Interest raised $75M, served 2,200 firms and 100k employees, achieved a 93% participation rate and 10% avg savings, pointing to ARR growth.

The platform directly tackled the core pain points of legacy retirement plans: lengthy setup, high fees, and complex administration.

By automating compliance, investment advice, and payroll integration, the solution reduced costs and increased accessibility for businesses with fewer than 500 employees.

Strong backing from mission‑aligned investors provided the capital needed to scale product development, sales, and customer support rapidly.

Software automation can dramatically lower the cost and complexity of employee benefits, making it feasible to serve underserved small‑business markets while driving high engagement and savings rates.

Following the Series C, Human Interest announced plans to double down on product development, expand regional and national partnerships, and grow its teams in product, engineering, sales and marketing. The company aims to reach cash‑flow breakeven in 2021 and to extend its reach to the millions of SMBs still lacking retirement benefits.