August 4, 2021
With 63 percent of American workers saying their financial stress has increased since the start of the pandemic*, the need for accessible financial education is greater than ever. OneEleven announced that it has raised a round of financing to further expand its inclusive financial wellness platform that benefits all people regardless of income level. The round was led by Inspiration Ventures with participation from U.S. News Digital Ventures LLC, an investing arm of U.S. News & World Report.
“As a media company whose mission is to provide expert advice to our audience, we are thrilled to partner with OneEleven to invest in companies that are helping everyday Americans make good financial decisions,” said Bill Holiber, CEO of U.S. News. He added, “With more than a third of Americans not having enough savings to cover a $400 emergency, prioritizing financial wellness has never been more important. After the past year of financial uncertainty, companies all across the country recognize the need to provide their employees with the tools to establish good financial habits and plan for the future.”
From Fortune 500s to tech startups, OneEleven partners with companies of all sizes to provide its financial wellness platform as an employee benefit. Their proprietary process is backed by behavior science and combines technology, education, and psychology with real human coaches to help individuals develop healthy money habits that maximize happiness and reduce financial stress.
“We are particularly excited about OneEleven’s business potential in offering high-value financial education at scale for those large populations of customers in need of expert support in money matters,” said Gady Nemirovsky, General Partner of Inspiration Ventures. “We believe OneEleven offers the most comprehensive user-based financial management solution on the market today.”
Participating employees have been able to start saving, create an emergency budget, manage debt and plan for the future – at no cost to them. Unlike traditional fringe benefits like a 401(k), which require an employee contribution, OneEleven is completely employer sponsored and requires no buy-in from the employee to access services.
“The truth is that most existing benefits indirectly assume financial stability by requiring an employee contribution. It’s great to see forward-thinking companies acknowledge this by sponsoring a financial wellness benefit like OneEleven that is accessible to all employees regardless of their current situation,” explains OneEleven Founder and CEO, Dani Pascarella, CFP®.
OneEleven’s goal of democratizing financial wellness remains the same but their ability to reach more individuals has now been strengthened by the power of two incredible organizations, Inspiration Ventures and U.S. News & World Report.
If you are a forward-thinking company that wants to offer your employees the power of a financial wellness program, reach out to us at firstname.lastname@example.org.
*2021 PwC Employee Financial Wellness Survey
About Inspiration Ventures
Inspiration Ventures is a Silicon Valley based investment fund that believes the best founders are steadfast in their missions to build a better world through extraordinary businesses. With a combined 30 years of operational excellence in founding and scaling companies, we understand the startup journey and guide founders and CEOs at every step. Our unique approach to investing is designed to diversify risk and maximize early capital returns –– directly aligning the incentives of investors with entrepreneurs.
About U.S. News & World Report
U.S. News & World Report is a multifaceted digital media company dedicated to helping citizens, consumers, business leaders and policy officials make important decisions in their lives. We publish independent reporting, rankings, data journalism and advice that has earned the trust of our readers and users for nearly 90 years. Our platforms on usnews.com include Education, Health, Money, Travel, Cars, News and 360 Reviews. U.S. News reaches more than 40 million people monthly.