General Atlantic, a global growth equity firm, has led $200M in funding for Guideline, a provider of retirement plan services for small and medium-sized businesses. Existing investors Generation Investment Management, Greyhound Capital, Felicis Ventures, Propel Ventures and others also participated. Guideline plans to use the funds to further scale its offering of full-service 401(k) plans, as well as introduce new retirement plan solution products.
Kevin Busque, Co-founder and CEO of Guideline, said, “We founded Guideline with the mission to better serve small business owners and their employees by transforming access to retirement savings plans. We are proud of our significant growth over the past six years as we have worked to modernize a legacy component of the U.S. economic system and ensure retirement planning is accessible to all. We are excited to draw upon General Atlantic’s deep expertise at the intersection of technology and financial services as we continue to empower businesses and their employees to plan for the future.”
“Guideline is uniquely positioned as a modern, digital-first solution for small and mid-size employers who have been traditionally underserved by legacy providers,” added Aaron Goldman, managing director and global co-head of financial services at General Atlantic. “The Guideline team deeply understands the needs of its client base, offering a holistic platform that allows employers to seamlessly provide retirement benefits and enables employees to begin building retirement savings. We admire Guideline’s transparent approach and believe the business is poised to expand as it scales its platform and offerings. We look forward to partnering with Kevin and the Guideline team in this new phase of the business’ growth.”
As part of the transaction, Goldman will join the Guideline board of directors.