Vestwell raises $385 million in Series E

Vestwell , a savings and retirement infrastructure platform, raised $385 million in Series E funding led by Blue Owl Capital and Sixth Street Growth, with participation from Neuberger Berman, Morgan Stanley, Franklin Templeton, TIAA Ventures, HarbourVest, and others. The round doubles the company’s valuation since 2023 and brings total funding to $660 million.

The New York-based company now supports more than 2 million savers and administers over $50 billion in assets, with more than $200 million in annual recurring revenue. Vestwell said the new capital will support expansion across payroll, financial institutions, and public programs, along with continued investment in data, automation, and personalized savings capabilities.

“Vestwell has built a resilient platform with strong underlying economics and a clear path for continued expansion. The company’s ability to scale profitably while broadening both its product offering and distribution reflects the durability of its model and the strength of its execution. Vestwell is building long-term infrastructure for the savings ecosystem, enabled for today’s age of AI.” – Tim DeGrange, a principal of Blue Owl Capital.