Northstar Raises $10.7M in Series A for Employee Benefits

/ / Northstar Raises $10.7M in Series A for Employee Benefits

Northstar, a Los Angeles, CA-based fintech company that enables employers to offer financial wellness as an employee benefit, raised $10.7m in financing, including a new $7.3m Series A funding. The latest round was led by M13 with participation from Foundation Capital and Workday Ventures as well as Parade Ventures, Ludlow Ventures, Designer Fund, Combine, RRE Ventures, Swell Partners, PeopleTech Partners, and founders and C-level executives from NerdWallet, Plaid, Adobe, Amazon, BrandSafway, SunRun, Yelp, Product Hunt, and Thumbtack. In conjunction with the funding, Matt Hoffman, M13’s Partner and Head of Talent and DigitalOcean’s former VP People, joined the Northstar board.

“We love partnering with employers – it’s a natural fit,” said Northstar CEO and co-founder Will Peng. “For generations, employees have gotten paychecks and retirement plans through work, but without guidance to manage their finances and achieve their goals. Employment is the primary source of financial stability and wealth creation, and Northstar is redefining the employee experience.”

The capital raised in the Series A enables Northstart to bring financial wellness as a benefit to more employers and continue building the first unified financial wellness, compensation, and benefits platform.

Announcement: Northstar Raises $10.7M in Series A