Senior benefits platform Renew.com raises $3 million to help retiring baby boomers –
Summary
Renew.com has raised $3 million in Series A funding from Venrock, Expa and others to launch a platform aiming to give the baby boomer generation adequate information on their benefits after retirement. American companies started to shift away from pensions and healthcare benefits packages for retirees in the mid-1980s, leaving the last bit of the boomers without the same compensations their parents enjoyed at the sunset of their careers. Add that to the fact that roughly 10,000 people in the baby boomer generation are expected to retire each day between now and the next decade and you can imagine there’s a lot of work about to go into helping them with the shift to their golden years. Nazemi built Renew .com with his friend Tony DeGangi after seeing how difficult the transition was for many of the people using a site he previously co-founded, Oscar Health. The site is free to both retiring employees and to the employer, but, similar to Zenefits and other cloud benefits platforms, Renew makes its money off brokerage commissions.