Icon Savings Plan, the San Francisco-based portable retirement savings plan company aims to simplify retirement benefits for employers by offering a no-cost alternative to 401(k) plans. The seed round was led by Tom Blaisdell, with participation from Rethink Impact, TASC Ventures, Kelly Innovation Fund, Portland Seed Fund and Alumni Ventures Group.
“We are a technology company, so the opportunity to have that funding support is critical,” CEO Laurie Rowley said. “We need a huge capital investment to build something in a highly regulated industry. ‘Build fast and break things’ doesn’t work here. To be able to work within the $29 trillion retirement industry, you need a big investment to get opened and running.”