We are thrilled to announce that our portfolio company, Micruity, has successfully closed a $5 million funding round. This latest funding round was led by industry giants Prudential, TIAA, and State Street, with additional support from Pacific Life and Western & Southern Financial Group. This $5 million investment underscores the confidence these major players have in Micruity’s mission and technological capabilities. We first invested in Micruity in January 2022.
About Micruity
Micruity is at the forefront of developing scalable retirement income solutions. Their platform, the Micruity Advanced Routing System (MARS), creates a seamless data flow across the defined contribution plan ecosystem, breaking down traditional barriers within the financial services industry. By fostering an open architecture, Micruity enables better integration of income planning features into 401(k)s, 403(b)s, and other retirement plans.
Looking Ahead
“The new funding enables Micruity to rapidly build out infrastructure not just for retirees in the drawdown phase of their retirement journey but also provide critical support for younger Americans still saving for retirement. Successive financial crises have eroded the retirement savings of many Americans who now face the prospect of outliving their savings. By building the infrastructure necessary to enhance the user experience of both guaranteed and non-guaranteed income products, Micruity, along with our partners, can help close this gap and deliver a safe and secure retirement.” – Trevor Gary, Founder and CEO of Micruity.
We are proud to support Micruity as they continue to innovate and transform the retirement landscape. Stay tuned for more updates on their journey and the exciting developments ahead.
For more information on Micruity’s transformative approach to retirement income, visit Micruity.
