Burlingame, CA based retirement investing startup Guideline has raised a $15m Series A led by Felicis Ventures.
| less than a minute read
Guideline raises $15 million led by Felicis to make 401(k)s more widely available
Founded in 2015, Guideline wants to make it easier for small and medium-sized businesses to offer 401(k) retirement accounts. It does this with a SaaS-based offering that includes a small $500 fee for setup and monthly charges based on the number of employees that participate. Unlike legacy 401(k) providers, Guideline doesn’t make its money off a percentage of its assets under management. As a result, the company is not incentivized to ignore SMBs, which typically don’t have enough employees (or assets) for most financial institutions to justify winning their business.
