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BrightPlan Closes $9.5 Million Series A Round as Growth Accelerates

Company grew ARR nearly fivefold in 2020; unveils redesigned Total Financial Wellness solution to better serve employees, support enterprises and improve equity


San Jose, CA, April 1, 2021 – BrightPlan, a leader in Total Financial Wellness, today announced that it has closed a $9.5 million Series A funding round led by the Fremont Group and the Cynosure Group, and joined by Still Capital Partners and Hawk Partners. The investment comes on the heels of a year of strong growth for the company, which saw a nearly fivefold increase in annual recurring revenue awarded and several new enterprise customers in 2020, including Genesys and Rubrik. As part of the investment, George Still, Jr., a well-known tech investor and board member for Workday, joins the BrightPlan Group, Inc. board of directors. This round will drive expansion and continued product innovation for the BrightPlan platform, enabling positive financial outcomes for enterprises and their employees.

Today employers increasingly seek solutions to improve employee well-being and foster engagement. Finances are the top stressor of employees according to PwC, and research has found a direct link between financial stress and physical and mental health. In addition, many organizations are focused on improving equity across the workplace. BrightPlan’s Total Financial Wellness solution integrates with employer benefits to provide a comprehensive personal finance solution for all employees that is real-time and personalized, helping all employees manage financial stress while improving productivity, engagement and retention.

“Last year put the focus back where it should be―on benefits that really matter to employees,” said Marthin De Beer, BrightPlan founder and CEO. “Today’s workforce ranks financial wellness as more important than healthcare benefits and seeks solutions to address soaring financial stress. With this new funding, BrightPlan will expand our efforts and partner with more companies to engage employees on their financial futures while fueling business growth. Our goal is to democratize financial wellness and make Total Financial Wellness a ‘must-have’ benefit for every enterprise.”

As part of its ongoing commitment to innovation, BrightPlan also unveiled a redesigned AI-powered solution that provides deeper personalization for employees and makes it easier to set and accomplish tailored financial goals. The new user dashboard provides deep financial insights and enhances ease of use, elevating the most salient financial data to help employees set priorities, make more informed decisions and quickly take action to achieve any life goal―from paying off debt to purchasing a home to planning for retirement.

“BrightPlan has an impressive and holistic approach to financial wellness designed to invigorate and support employees while delivering clear value to enterprises―a combination that has become even more critical during the pandemic,” said George Still Jr., at Still Capital Partners. “Their rapid growth and major client wins reflect the strength of their solution helping employees navigate rapidly shifting financial waters.”

Recently BrightPlan was also awarded a Pensions & Investments’ 2021 Eddy Award for the company’s quality of financial education for employees in financial wellness through its Total Financial Wellness solution.

Read about the BrightPlan journey in this blog post from our founder.


About BrightPlan

BrightPlan is a leader in Total Financial Wellness. The company is the first financial wellness solution certified for fiduciary excellence. BrightPlan provides a comprehensive personal finance solution for all employees that is real-time, personalized and integrated with employer benefits. Its unique combination of digital platform and human advisors supports employee personal financial goals at every stage of life, helping enterprises to better attract, retain and engage talent. For more, visit brightplan.com.  

Contact: BrightPlan@methodcommunications.com

Disclosure: BrightPlan is an SEC-registered investment advisor offering digital investment advice to US residents and the first financial wellness solution certified for fiduciary excellence by the Centre for Fiduciary Excellence, LLC ("CEFEX") as having met their standards for Fiduciary Practices for Investment Advisors. Financial advisors are from Plancorp LLC, an affiliated SEC-registered investment adviser. Registration does not imply a certain level of skill or training nor does it imply endorsement by the SEC.

Awards are not indicative of future performance. Awards and Other Recognitions should not be interpreted as a guarantee or suggestion that a client or prospective client will experience a certain level of results if our firm is engaged, or continues to be engaged, to provide investment advisory services, or as an endorsement of our firm by any past or present client. None of the sponsoring publications or organizations are affiliated with our firm, none of the Awards or Other Recognitions are based on client evaluations of our firm, and we have not made any payments for or in anticipation of any Award or Other Recognition.