Highway Benefits, a Manhattan Beach, CA-based provider of an employee benefits platform, raised $3.1M in Seed funding.
The round was led by XYZ Venture Capital, with participation from angel investor Roger Ferguson Jr.
The company intends to use the funds to accelerate growth and expand operations.
Founded in 2021 by Mick MacLaverty and Cory Micheel, Highway Benefits provides an employee benefits platform that makes it easy for employers to make tax-free contributions directly to their employees’ student loans. Employers can create and manage fully customizable contribution and eligibility rules, while its automated system ensures proper tax compliance and verifies benefit eligibility and qualified loans for participating employees. The company allows employees to quickly connect their student loans through integrations with all loan servicers so they can begin saving immediately. The platform’s pricing ensures employers only pay for employees who have enrolled and are actively receiving contributions each month.
FinSMEs
02/03/2023