NewRetirement, Inc.

Based in California, US, and founded in 2015 by CEO Stephen Chen, NewRetirement, Inc. , operates as a financial technology company that focuses on providing a digital-first financial planning platform that offers wealth management solutions for both individual consumers and corporate partners. In July 2023, NewRetirement, Inc. raised USD 10.

42 million in series A funding led by new investor Allegis Capital, with participation from other new investors Cameron Ventures, Fin Capital, Frontier Ventures, Marin Sonoma Impact Ventures, Motley Fool Ventures, Nationwide Ventures, Plug and Play Ventures, Northwestern Mutual Capital, and Ulu Ventures. Other unspecified investors also participated in the round. The company provides a financial wellness platform with a wide range of suite services, such as financial planning tools, classes, coaching, and access to financial advisors, enabling users to create and manage their financial plan that goes beyond savings and investments to include human capital, benefits, pensions, Medicare, social security, home equity, taxes, decumulation, estate planning, and more. NewRetirement also allows employer plan sponsors and plan providers to offer planners, calculators, and educational classes to their employees to avail themselves of self-directed financial wellness benefits.

With features like the simple retirement calculator and lifetime annuity calculator, users can gain valuable insights into their financial future. NewRetirement generates revenue from the subscription of its platform packages, which include PlannerPlus (USD 120 per year) and NewRetirement Advisors (USD 1,500 per year). The company plans to use its proceeds from March 2024 funding to expand its enterprise offerings, scale onboarding and support for new partners, enhance research and development to help its user base, integrate LLMs and AI to provide personalized recommendations, and build capacity to meet growing demand.