Micruity
Overview
Micruity, Inc. is a financial technology company based in Toronto, Ontario, specializing in retirement income solutions. Founded in 2017 by Trevor Gary and Chris Livadas, the company aims to streamline the infrastructure for retirement plans by creating a seamless data transfer system among insurers, asset managers, and plan sponsors. Micruity's platform seeks to "pensionize" retirement savings plans by making annuities more accessible through 401(k) plans. Over its development, Micruity has successfully raised over $14 million, including a $5 million funding round in 2024 to expand platform capabilities.
Recent Developments
- April 2025: Announced participation in multiple industry forums, showcasing their ongoing commitment to transforming retirement income solutions.
- October 2024: Recognized by CB Insights as one of the 100 most innovative fintech startups globally, highlighting its significant role in simplifying retirement income.
- June 2024: Expanded collaboration with MetLife to enhance the Digital Retirement Platform, increasing accessibility to annuities within defined contribution plans.
- May 2024: Closed a $5 million funding round with strategic investments from Prudential, State Street Global Advisors, TIAA Ventures, Pacific Life, and Western & Southern Financial Group to further develop platform services.
- September 2024: Appointed Mike Westhoven as Head of Client Success to lead Micruity's client engagement and strategic partnership initiatives.
- April 2024: Partnership with Broadridge for a series of webinars aimed at educating industry stakeholders on leveraging technology to adopt retirement income solutions.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2017 |
| Headquarters | Toronto, Ontario, Canada |
| Founders | Trevor Gary, Chris Livadas |
| Revenue | N/A |
| Profits | N/A |
| Key Investors | Prudential, State Street Global Advisors, TIAA Ventures, Pacific Life, Western & Southern Financial Group |
| Industry | Insurance Technology |
| Number of Employees | 11-50 |
Early History
Founded in 2017 by Trevor Gary and Chris Livadas, Micruity started with the aim to revolutionize the retirement planning landscape by integrating pension-like features into 401(k) plans. The company targeted the communication barriers between asset managers, insurers, and plan sponsors, presenting a unified platform to enhance data interoperability. Micruity underwent several seed funding rounds, culminating in their first significant release, poised for the growing needs in the U.S market, capitalizing on new legislation such as the 2019 Secure Act.
Company Profile and Achievements
Micruity's key product, the Micruity Advanced Routing System (MARS™), allows for frictionless sharing of data between life insurers, asset managers, and recordkeepers. The platform offers an API that adapts to diverse data-sharing formats, facilitating the integration of annuities into wider retirement plan offerings. Major achievements include:
- Recognition as a promising innovator by CB Insights in 2024.
- Formation of strategic partnerships with MetLife to deliver a digital retirement platform.
- Hosting thought leadership webinars with Broadridge.
Current Operations and Market Position
Micruity is highly active in the insurtech sector, focusing on advanced technology solutions that connect stakeholders within the retirement planning ecosystem. As of 2025, the company holds a critical position in facilitating data integration across retirement plan providers, enhancing the delivery of annuity products in diverse markets. With strategic partners like MetLife, Micruity is positioned as a key enabler of retirement income solutions amidst a shifting regulatory landscape.
Conclusion
Micruity is at the forefront of transforming retirement income through its innovative technology solutions, making significant strides in integrating pension models within 401(k) frameworks. As regulations and market needs evolve, Micruity’s approach to simplifying and securing retirement outcomes has positioned it as a leader in fintech. The company's ongoing ventures, partnerships, and developments underscore its growth trajectory and potential impact on the financial sustainability of future retirees globally.