• Email Facebook Twitter LinkedIn Vestwell, a digital savings platform, has raised $385 million in a Series E funding round co-led byBlue Owl CapitalandSixth Street Growth. • The New York-based startup says its new valuation is $2 billion, doublethe $1 billion valuationit achieved when raising its $125 million Series D round in December 2023. • In total, Vestwell says it has raised $660 million in capital since its 2016 inception. • Also participating in the latest round wereNeuberger Berman,Silver Lake Waterman,Morgan Stanley,Franklin Templeton,TIAA VenturesandHarbourVest Partners. • Vestwell is growing “profitably,” according to CEOAaron Schumm, who said the company’s annual recurring revenue is now more than $200 million. • The platform has more than 2 million active savers and works with more than 500,000 businesses.

Article Summaries:

  • Vestwell, a New York‑based digital savings platform, closed a $385 million Series E round led by Blue Owl Capital and Sixth Street Growth, boosting its valuation to $2 billion-double the $1 billion it achieved in December 2023. The company has raised $660 million since 2016 and now reports annual recurring revenue over $200 million, with more than 2 million active savers and $50 billion in assets across workplace, institutional and government channels. CEO Aaron Schumm said the firm is growing 50 % YoY with strong unit economics. Proceeds will expand distribution into payroll, benefits and financial‑institution platforms and fund AI‑driven personalization.

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