Monday, March 14, 2016
Honest Dollar Acquired By Goldman Sachs
Austin-based Honest Dollar, a startup developing a retirement saving service driven by web- and mobile apps, has been acquired by the Investment Management Division of Goldman Sachs. Financial terms of the acquisition were not announced. Honest Dollar, which is led by William Hurley, had only raised around $3M in seed funding so far, from such investors as Expansive Ventures, Formation 8 and Core Innovation Capital. Goldman Sachs said that Honest Dollar will remain based in Austin. Honest Dollar offered up retirement plans--based on IRAs, not 401Ks--aimed at small and medium sized businesses. Hurley was previously Chief Innovation Officer at Chaotic Moon.