附近上门

Improving financial well-being is on many people鈥檚 minds these days, and is redesigning its total financial wellness platform so employers can offer those services to their employees.

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Managing finances is a , according to . So, buoyed by a new $9.5 million Series A round of funding, San Jose, California-based BrightPlan is developing tools that integrate with employer benefits to provide more personalized dashboard insights into an employee鈥檚 real-time financial standings and life goals; paying off debt, purchasing a home, or planning for retirement.

鈥淪tress is not typically about your job or even your personal relationships, but often is about personal finances,鈥� , BrightPlan founder and CEO, told 附近上门 News. 鈥淲e鈥檝e seen employers provide 401(k) support, but not direct support for employees. Before you can save, you need to know what you are spending, and then need money freed up to save. We connect everything to BrightPlan and give advice on all aspects.鈥�

The round was led by the and , which was joined by Still Capital Partners and Hawk Partners. The investment comes on the heels of a year of strong growth for the company, which saw a nearly fivefold increase in annual recurring revenue and several new enterprise customers in 2020, including and .

Founded in 2016, the $9.5 million is the company鈥檚 first capital raise, though it had some early seed funding as part of its parent company, , De Beer said. BrightPlan entered the financial wellness market in 2019, and will use the new funding to scale, adding to its sales, marketing and engineering teams.

Year over year, the company has grown its pipeline of customers in a way that growth is expected, to meet and exceed the 2020 growth in 2021, De Beer said. That includes the company鈥檚 first major Fortune 500 client and one more in the works.

鈥淲e are seeing employers taking this seriously and are excited to help their employees,鈥� he added. 鈥淲e are focused on the U.S., which is a large market for us, but early next year, we plan to move into Canada, Europe and Australia.鈥�

Meanwhile, as part of the investment, Still Capital Partners鈥� . joins BrightPlan鈥檚 board of directors. Still said in an interview that he doesn鈥檛 typically take board seats, but made an exception for BrightPlan because he believes in the company鈥檚 mission.

鈥淏rightPlan is really a mental health company that happens to be providing financial wellness,鈥� Still said. 鈥淔inancial problems are the No. 1 issue in marriages and they cause insomnia. When you use BrightPlan, it is like you are sitting down with someone at the start of your career, and thinking about life goals. They then give you an almost entire financial package of what you are doing. And, if you leave the company, BrightPlan goes with you. I鈥檓 here to help Marthin and his team bring worldwide change to mental health.鈥�

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