Captain401, a technology company based in San Francisco, closed a $3.5 million seed round of financing this week, furthering its aim to give small businesses an easy, automated way to set up and maintain a 401(k) plan.

“I think we are getting recognition from investors that what we’re doing to automate not only the method of investing for employees but also automating the HR administration for companies inside their 401(k) is really, really valuable and an enormous opportunity in an industry that hasn’t had much technology innovation over the past couple of decades,” says Roger Lee, co-founder and CEO of Captain401.

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