401GO Secures $12M Series A Funding for Retirement Innovation
April 27, 2024, 3:30 pm
Location: United States, Utah, West Jordan
Employees: 11-50
Founded date: 2017
Total raised: $14M
401GO, a retirement plan provider based in Sandy, UT, recently closed a $12 million Series A funding round. Next Frontier Capital spearheaded the investment, with Rally Ventures, Impression Ventures, and Stout Street Capital also participating in the funding. This financial boost will propel 401GO's mission to revolutionize retirement savings by blending cutting-edge technology with personalized guidance from financial experts.
Led by CEO Daniel Beck, 401GO is committed to empowering individuals to secure their financial futures with confidence. Their unique approach combines digital tools with advisor support to ensure customers receive the best of both worlds. Since its inception in 2019, 401GO has served over 2,500 businesses and amassed more than 30,000 active users.
In November 2023, 401GO introduced GO-IRA, an IRA offering that simplifies the rollover of 401(k) investments within the platform. This feature enhances the portability of retirement savings for employees transitioning between employers. With the newly acquired funds, 401GO plans to accelerate its growth by enhancing its existing 401(k) and IRA platforms, expanding its financial wellness platform, and introducing new products like Health Savings Accounts (HSAs) and Emergency Savings Accounts (ESAs) within the next 12-24 months.
CEO Daniel Beck expressed gratitude for the investors' confidence in 401GO's strategic vision and execution. He emphasized the company's commitment to reshaping the retirement savings industry through a blend of technology and personalized service. Beck highlighted the challenges of building a modern platform from scratch, emphasizing the importance of avoiding shortcuts and embracing sustainable growth strategies.
Looking ahead, 401GO aims to double its workforce to over 110 employees in the next two years, with a focus on software development and sales roles. This expansion will support the company's ambitious growth plans and solidify its position as a leader in retirement innovation.
Led by CEO Daniel Beck, 401GO is committed to empowering individuals to secure their financial futures with confidence. Their unique approach combines digital tools with advisor support to ensure customers receive the best of both worlds. Since its inception in 2019, 401GO has served over 2,500 businesses and amassed more than 30,000 active users.
In November 2023, 401GO introduced GO-IRA, an IRA offering that simplifies the rollover of 401(k) investments within the platform. This feature enhances the portability of retirement savings for employees transitioning between employers. With the newly acquired funds, 401GO plans to accelerate its growth by enhancing its existing 401(k) and IRA platforms, expanding its financial wellness platform, and introducing new products like Health Savings Accounts (HSAs) and Emergency Savings Accounts (ESAs) within the next 12-24 months.
CEO Daniel Beck expressed gratitude for the investors' confidence in 401GO's strategic vision and execution. He emphasized the company's commitment to reshaping the retirement savings industry through a blend of technology and personalized service. Beck highlighted the challenges of building a modern platform from scratch, emphasizing the importance of avoiding shortcuts and embracing sustainable growth strategies.
Looking ahead, 401GO aims to double its workforce to over 110 employees in the next two years, with a focus on software development and sales roles. This expansion will support the company's ambitious growth plans and solidify its position as a leader in retirement innovation.