<p>Its recordkeeping technology enables 300,000 small businesses to offer 401(k) savings plans, as well as more than 30 state-facilitated IRAs and state sponsored 529 college savings plans, helping 1.1 million savers. In May 2023, it announced a partnership with JPMorgan to help power Chase’s small business 401(k) savings platform. It also bought student loan benefits provider Gradifi Solutions from Morgan Stanley last summer to help businesses offer loan repayment benefits to employees.</p>
<p>Funding: $275 million from Lightspeed Venture Partners, Fin Capital, Goldman Sachs and others.</p>
<p>Latest valuation: $1 billion, according to PitchBook.</p>
<p>Date of last valuation: December 2023.</p>
<p>Bona fides: Safeguards $30 billion in assets and added Delaware and Maine to its roster of state-sponsored programs in 2023.</p>
<p>Founder and CEO: Aaron Schumm, 45, previously founded wealth management fintech FolioDynamix and sold it to Envestnet.</p>
<p>Headquarters: New York, New York.</p>
HQ: New York, New York, United States