# Candidly

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/candidly

- Industry: Software
- Headquarters: New York, US
- Website: www.getcandidly.com
- Total disclosed funding: $45M
- Latest round: Series B (Mar 7, 2023)
- Investors on record: 17

## About

Candidly is a US-based financial wellness platform dedicated to alleviating student debt for employees through personalized repayment solutions, gamified tools, and expert coaching services.Founded in 2016, Candidly is a financial wellness company that focuses on helping employees manage student debt. The company is headquartered in New York, US. Candidly was co-founded by Alexandra Slater, Hannah Peet, and Laurel Taylor, who have backgrounds in financial services. In March 2023, Candidly raised USD 20.5 mn in a SERIES B funding round led by Altos Ventures, with participation from Cercano Management, bringing the total amount raised to USD 20.5 mn and valuating the company at USD 81.93 mn.Candidly offers a comprehensive suite of financial wellness solutions focused on alleviating student debt for employees. Their core product is a platform that assists users in selecting and enrolling in optimal repayment plans tailored to their financial situations, significantly reducing monthly payments for those who qualify. Additionally, Candidly provides gamified repayment tools, expert coaching services, and self-serve repayment optimization options to empower users on their financial journeys. Their services aim to address the urgent needs of approximately 43 million Americans dealing with student debt, with a particular emphasis on creating pathways for loan repayment and financial stability. Candidly serves a diverse client base, including employers, financial institutions, and record keepers, and operates primarily within the United States.Candidly’s revenue model is primarily based on B2B partnerships with employers looking to offer financial wellness benefits to their employees. The company generates income through subscription fees paid by employers for access to their platform and services, which include student loan contributions, retirement matching solutions, and emergency savings programs. Employers benefit from integrating these offerings as they enhance employee engagement and retention rates. The structure of transactions typically involves fixed subscription costs tied to the size of the employer's workforce, allowing for scalable access to Candidly's innovative solutions. Pricing details for specific services are established based on the contractual agreements with each client, reflecting the breadth and scope of services provided.In March 2023, Candidly raised USD 20.5 mn in SERIES B funding, which will be utilized to further develop its product offerings. The company is focused on designing new financial wellness tools aimed at enhancing user engagement and expanding its reach in the market. Candidly plans to target new geographic regions in North America and aims to implement these expansions by the end of 2024.

## Funding rounds

- Series B, Mar 7, 2023, $21M — Altos Ventures, Cercano Management
- Series A, Mar 3, 2021, $10M — UBS, Vulcan, Fiserv, Inc., Rethink Capital Partners, SixThirty, Breton Capital Ventures, Salesforce Ventures, Impact Engine, Aflac Corporate Ventures
- Series A, Mar 6, 2019, $11M — Vulcan, Rethink Capital Partners, SixThirty, First Data Ventures, G9 Investments, Breton Capital Ventures, Salesforce Ventures, Impact Engine, Reach Capital
- Seed, Jan 1, 2018, $2.9M — Boston Harbor Angels, SixThirty, Broadway Angels, Reach Capital, Financial Solutions Lab

## Investors

- Boston Harbor Angels — Seed
- SixThirty (https://capitalatlas.ai/funds/sixthirty) — Seed, Series A
- Broadway Angels (https://capitalatlas.ai/funds/broadway-angels) — Seed
- Reach Capital — Seed, Series A
- Financial Solutions Lab — Seed
- Vulcan (https://capitalatlas.ai/funds/vulcan) — Series A
- Rethink Capital Partners (https://capitalatlas.ai/funds/rethink-capital-partners) — Series A
- First Data Ventures (https://capitalatlas.ai/funds/first-data-ventures) — Series A
- G9 Investments — Series A
- Breton Capital Ventures (https://capitalatlas.ai/funds/breton-capital-ventures) — Series A
- Salesforce Ventures (https://capitalatlas.ai/funds/salesforce-ventures) — Series A
- Impact Engine (https://capitalatlas.ai/funds/impact-engine) — Series A
- UBS — Series A
- Fiserv, Inc. — Series A
- Aflac Corporate Ventures (https://capitalatlas.ai/funds/aflac-corporate-ventures) — Series A
- Altos Ventures (https://capitalatlas.ai/funds/altos-ventures) — Series B
- Cercano Management (https://capitalatlas.ai/funds/cercano-management) — Series B