funding, software analytics, startups

BrightScope Raises $2M

Bruce V. Bigelow 9/2/09

San Diego-based BrightScope, a startup that analyzes and rates the performance of 401k plans, says it has raised $2 million in a Series B funding round led by an angel investment from Jim Caccavo of Steelpoint Capital Partners. BrightScope was founded two years ago as an independent data analytics firm that reviews and rates 401k plans, which have become a crucial method of personal saving for retirement. BrightScope says its rating engine reviews more than 200 criteria for each plan to calculate a numerical score. Caccavo, a former CEO of Tickets.com, will join BrightScope’s board.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call 858-202-0492