Summer provides an end-to-end workplace student loan solution that partners with employers to deliver benefits for saving for education, managing student loans, finding forgiveness options, and lowering monthly payments. The company is led by CEO Will Sealy and is a Certified B Corporation. Summer has partnered with over 800 employers, financial institutions, unions, and government leaders and reports generating over $1.6 billion in savings for borrowers. The company intends to use the new funding to expand its leadership team, grow its Advisory Board, and further enhance its tech-based solution. Summer focuses on making it simple for employers to implement a range of student loan and education assistance benefits. The company is based in New York City. Summer provides a digital, employer- and institution-facing platform that helps individuals plan for college costs, reduce student loan burdens, and optimize retirement savings through products like Summer Secure for SECURE 2.0 retirement matching. The company offers an API suite and operational expertise to turn complex student loan policies into high-adoption workplace solutions, and it combines technology with human support. Summer has expanded partnerships with retirement recordkeepers, payroll providers, Fidelity Investments (2022), Credit Karma, and the American Federation of Teachers to reach large populations (the AFT partnership supports 1.7 million teachers, government employees, and healthcare workers). The firm has hired Leigh Gross as Chief Revenue Officer to lead partnerships with recordkeepers and financial institutions. Summer says it has delivered and surpassed $1 billion in total projected savings for borrowers. Founded in 2017 and operating as a certified B Corporation, the company plans to use new funding to expand its platform and accelerate growth of its student debt and education assistance offering. Summer offers a 360-degree software platform that helps borrowers understand their student loans and identify repayment paths, including eligibility for loan forgiveness. The company builds support for 120 loan forgiveness programs and tracks more than a hundred state-level proposals. Summer does not charge end users; it sells its product through employers and associations as an employee benefit. Launched in 2017 by founders who started the company at Yale, the team later migrated to New York City and has grown to about 13 employees. CEO Will Sealy previously worked at the Consumer Financial Protection Bureau in the Office of Students. To date Summer has helped 10,000 borrowers and saved users roughly $8 million this year.

Total raised

$25M

Funding rounds

3

Latest round

Equity

Latest activity

Apr 2024