San Francisco-based Captain401, which helps small businesses to setup retirement savings plans for employees, has raised $3.5 million in seed-stage funding. Investors include SoftTech VC, SV Angel, Y Combinator, CrunchFund, Dave Morin‘s Slow Ventures, Susa Ventures, FundersClub and numerous individuals, including 49ers Hall of Fame quarterback Joe Montana, Gmail developer Paul Buchheit, Twitch co-founders Justin Kan and Michael Siebel, Scribd co-founder Jared Friedman, Nerdwallet co-founder Jacob Gibson and former Stripe CTO Greg Brockman. Captain401 went through Y Combinator last summer.
Captain401 co-founder Roger Lee, who said in a prepared release that “the retirement system today is screwing over working Americans,” noted that customers of its 401(k) retirement savings services include TinyCo, Buffer, Heap, Joyable and Y Combinator.
Photo of Captain401 co-founders Roger Lee and Paul Sawaya (left to right) courtesy of the company.