Wednesday, September 2, 2009

BrightScope Gets $2M

San Diego-based BrightScope, which operates an online service for rating 401k plans, announced today that the firm has raised $2M in a Series B funding round. The round was led by Jim Caccavo of Steelpoint Capital Partners, along with an unnamed group of executives, plus principals at hedge funds and private equity firms. BrightScope offers ratings and analytics on 401(k) retirement plans. The company said the new funding will go to build out its database of 401k plans, and further develop its products. Caccavo joins the firm's board along with the funding. More information »