Guideline, which designs affordable retirement plan solutions for small and medium-sized businesses, has bagged $200m in funding.
General Atlantic, a global private equity firm, served as the lead investor, with commitments also coming from Generation Investment Management, Greyhound Capital, Felicis Ventures, Propel Ventures and others.
With the fresh backing, the company is looking to scale its full-service 401(k) plans and release new retirement plan solution products.
Founded in 2015 by CEO, Kevin Busque, CPO, Jeremy Caballero, and CTO, Mike Nelson, Guideline helps everyone prepare for their retirement. Its platform offers a full suite of support, including plan administration and employee onboarding, compliance testing, governance filing and recordkeeping.
Small and medium-sized businesses can integrate the technology to easily build retirement plans and automate processes within the 401 (k) lifecycle for clients.
Guideline co-founder and CEO Kevin Busque said, “We founded Guideline with the mission to better serve small business owners and their employees by transforming access to retirement savings plans.
“We are proud of our significant growth over the past six years as we have worked to modernize a legacy component of the U.S. economic system and ensure retirement planning is accessible to all. We are excited to draw upon General Atlantic’s deep expertise at the intersection of technology and financial services as we continue to empower businesses and their employees to plan for the future.”
As part of the deal, General Atlantic managing director Aaron Goldman will join the board of directors.
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