Summer Raises $6M in Series A Extension

Summer

Summer, a New York-based certified B Corp committed to addressing the national student debt crisis, raised $6M in Series A extension funding.

The round, which brought the total amount to $18M, saw participation from General Catalyst, QED Investors, Flourish Ventures, Greycroft, Story Ventures, Gaingels, Calm VC, Partnership Fund for NYC, Fenway Summer, BDMI, and Avidbank.

The company intends to use the funds to expand the reach of the platform. 

Founded in 2017 by CEO Will Sealy, COO Paul Joo, and Chief Product Officer Vincent Tran, Summer works with financial institutions, employers, and unions to provide a digital solution that helps individuals plan for college costs, reduce the burden of student loan debt, and optimize retirement savings. It offers solutions for college cost planning, automated enrollment for loan assistance plans, tuition assistance, student loan contributions and retirement matching, and emergency savings.

The company also announced it has hired Leigh Gross as Chief Revenue Officer.

FinSMEs

25/04/2023