Candidly, a New York-based student debt and savings optimization platform, announced that it raised $20.5 million in Series B funding.
The round was led by Altos Ventures, with follow-on participation from Cercano Management.
“Our Series B round of financing places us in a unique position of opportunity and responsibility, empowering the largest financial services companies in the world to engage and transform the financial wellness and retirement readiness of those who believe that education, past, present, and future, is part of their path to prosperity,” said Laurel Taylor, Founder, and CEO of Candidly.
The company developed a full suite of SECURE Act 2.0 solutions offering multiple integration and branding options, enabling incumbents to realize speed to market through Candidly’s innovative proprietary technologies, next-best-action algorithms, and embedded digital experiences.
Candidly added prominent distribution partners such as Guild, Empower, Lincoln Financial Group, and Vanguard in 2022, joining existing partners such as UBS and Fiserv, allowing Candidly to serve over 35 million Americans. Candidly is now poised to serve one out of every five full-time, part-time, and gig workers in the United States.
Company: inspHIRE IO Corp.
Raised: $20.5M
Round: Series B
Funding Month: March 2023
Lead Investors: Altos Ventures
Additional Investors: Cercano Management
Company Website: https://getcandidly.com/
Software Category: Financial Wellness Platform
About the Company: Candidly (formerly FutureFuel.io) addresses the full lifecycle of education expenses and empowers people to make simultaneous progress on paying down student debt and building wealth. Candidly partners with leading employers, and financial institutions, 401(k) and 403(b) record keepers, retirement plan advisors, wealth management firms, and core banking providers, such as UBS, Fiserv, and Salesforce, to embed its experience anywhere a user works, banks, or experiences financial services. Candidly understands that education is one of the largest investments most people will make in a lifetime — whether for themselves or their children. The company is on a mission to make trusted, intelligent, and comprehensive solutions that enable Americans to reap the rewards of that investment so they can build financial wellness and wealth.
Source: https://www.businesswire.com/news/home/20230307005464/en/Candidly-Raises-20.5-Million-to-Help-Millions-of-Americans-Repay-Student-Debt-and-Build-Savings