Vestwell, a company offering an employer and individual savings platform, has raised $125 million in its Series D funding round led by Lightspeed Venture Partners. The funding will help support Vestwell’s expansion and its mission to provide savings solutions to more businesses and individuals across the U.S.
Vestwell’s offers a range of programs geared toward simplifying savings, including retirement, health and education savings, ABLE disability and emergency savings programs. With this latest funding, Vestwell will support small and emerging businesses looking to offer workplace savings programs that do not include the high fees and copious administrative tasks associated with legacy providers.
The company also plans to use its recent capital infusion to expand its focus on state savings program initiatives and develop new savings programs for its partners, employers and savers. Currently powering more than 30 state savings programs, Vestwell will continue supporting the financial institutions that use its product, helping them improve customer service and address the savings gap in America.
