Captain401 raises $3.5M

What does Captain401 do?

Captain401, is a modern automated 401K provider for small businesses and start-ups. It is a service and a tool which helps small businesses in setting up 401k plans for their employees easily and quickly. This company has launched out of Y Combinator in 2015. The company makes it easy for any business of any size to set up and administer a 401k plan online with an automated investment advising component and a modern interface and helps employees in making strong financial decisions about their savings.

How much Captain401 was funded?

Captain401 raised $3.5M on February 24, 2016 from David Spector, CrunchFund, FundersClub, Great Oaks Venture Capital, Susa Ventures, Slow Ventures, SV Angel,  Y Combinator and SoftTech VC.

Previous funding

• Undisclosed amount in undisclosed round on September 1, 2015 from FundersClub.

What is next for Captain401?

The seed funding will help the company in helping small businesses and start-ups five their employees retirement savings similar to those of the large and deep pocketed employees.  In future the company has plans to expand the level of advice given to employees. The company’s founder Roger Lee said that now individuals are becoming more responsible for their own financial future, there is a lot of opportunity to educate people and make investments and savings feel approachable for the first time in a way which the traditional services are not being able to do.

More about Captain401

The company was founded in 2015 by Paul Sawaya and Roger Lee. It has its headquarters in San Francisco, California. It offers a mdern, online 401k for start-ups and small businesses. The companies can now set up a 401k plan for their employees easily through this platform in just a few minutes. The company is automating one of the last big HR problems which is still untouched by the modern technology.