Nestimate, an analytics platform designed to empower 401(k) plan fiduciaries in implementing income solutions, announced the successful closing of $3 million in funding. The capital infusion is intended to accelerate Nestimate’s mission of democratizing access to lifetime income solutions within defined contribution retirement plans, aiming for broader industry adoption of guaranteed retirement income.
The funding round was led by S3 Ventures, with additional participation from PruVen Capital, TIAA Ventures, and Invest Nebraska. The investment will support expanded product development, scaling of customer support capabilities, and exploration into new frontiers of retirement solutions.
Kelby Meyers, CEO and founder of Nestimate, stated, “We are thrilled to partner with investors who understand the urgent need to equip fiduciaries with the ability to activate retirement income in a 401(k) plan. This capital enables us to ramp up product development, scale our customer support capabilities, and expand into new frontiers of retirement. This is really the beginning. Securing the future of retirees, who for the first time will predominantly enter retirement without a pension, is at stake.”
The Nestimate platform serves as an end-to-end experience for retirement consultants, advisors, or plan fiduciaries to bring retirement income solutions to 401(k) plans. Meyers added, “The prospect of outliving their savings is the number one fear that Americans face. The advisor or consultant who can successfully address and navigate this dilemma, and provide the solutions to alleviate it is going to differentiate themselves from the pack.”
Charlie Plauche, General Partner at S3 Ventures, commented on the company’s progress, “The recognition and adoption the company has received from the leading financial institutions indicates their ability to support the 401(k) industry’s transition from retirement savings plans to true plans for retirement. Nestimate breaks through the inertia that currently exists in adding retirement income to a plan. The company is at the forefront of modernizing the ‘pension’ for today’s worker.”
Wayne Baker, Chief Investment Officer at TIAA Ventures, emphasized the alignment between the organizations: “TIAA’s commitment to secure retirements through our promise of lifetime income is uniquely aligned with Nestimate’s experience and mission to democratize access to retirement income, especially as we see interest in guaranteed solutions increase. We’re excited to work with Kelby and his team to offer more Americans financial security through retirement.”
Travis Skelly, Partner at PruVen Capital, noted the market demand and platform strength, stating, “At PruVen, we back companies that solve the most urgent challenges for financial institutions and retirement income is at the top of that list. Nestimate fills a critical gap with the analytics, due diligence, and education fiduciaries need to confidently deliver guaranteed income solutions. What gives us even more conviction is that several of our LP partners are already working with Nestimate, underscoring both the market demand and the strength of the platform.”
Nestimate provides analytics, evaluation, and modeling solutions to assist plan fiduciaries in assessing retirement income strategies. The company serves retirement plan advisors, consultants, plan sponsors, recordkeepers, and insurers.
