Northstar has developed personal financial management tools and pairs employees with full-time, one-on-one financial advisors employed by the company, delivered as an employer-paid subscription priced monthly by headcount. Employees pay nothing for the service and advisors are non-commissioned; Northstar assigns the same advisor to each employee to build continuity and trust. Its client base spans private and public companies across industries and includes Zoom, Snap, 23andMe, Virgin Orbit and NerdWallet. The company reports revenue growth of over 5x year-over-year, expects 3x growth next year, and says its customer base has grown more than 600% since December 2020. Northstar is Los Angeles-based, was founded in 2016, has about 50 employees and uses contractors to serve employees in 18 countries. With the new financing it plans to double or triple headcount and expand to 30 countries by the end of 2023. Northstar offers an employer-provided financial wellness platform that pairs employees with dedicated Northstar CERTIFIED FINANCIAL PLANNER™ (CFP®) advisors, automates actions on advice, and centralizes recommendations on compensation and benefits. The product includes 1-on-1 CFP planning, automated savings/debt/investment actions, and tools for open enrollment, total rewards statements, and visual offer letters. The company reports strong adoption at customers such as Zoom, ServiceTitan, and Thumbtack, with more than 50% of eligible employees engaging with a Northstar CFP and messages between employees and CFPs doubling every month since March. Northstar positions itself to expand employer partnerships and embed financial guidance into the employee experience to address widespread financial stress among workers. The company was founded in 2016 by Will Peng and Matt Matteson and is based in Los Angeles. Financially, Northstar announced $10.7 million in financing, reflecting recent growth and investor interest.

Total raised

$32M

Funding rounds

2

Latest round

Equity

Latest activity

Oct 2022