Funding round
Vestwell Series B
Vestwell, which works in digital savings platform development in New York, raised $30M in a Series B round announced on 2 Apr 2019, led by Goldman Sachs Principal Strategic Investments. 10 firms took part. It is Vestwell's third venture round on record; the one before was a Series A in Oct 2017.
$30M
Amount raised
Not disclosed
Post-money valuation
10
Investors
1 lead
Valuation
What this round says about the price
Vestwell did not disclose a valuation in this round. It came 18 months after Vestwell's Series A. It is 4.8% of the $623M Vestwell has raised in the venture rounds on record. Vestwell raised again 27 months later: a Series C round of $70M in Jul 2021. Its next priced round, a Series E in Feb 2026, valued it at $2.00B.
Vestwell's funding rounds
Vestwell has 6 venture rounds on record. This one is highlighted.
- Seed 1 Sep 2016, led by FinTech Collective $4.5M
- Series A 2 Oct 2017, led by F-Prime Capital Partners $8.0M
- Series B this round 2 Apr 2019, led by Goldman Sachs Principal Strategic Investments $30M
- Series C 20 Jul 2021, led by Wells Fargo Strategic Capital and Fin Capital $70M
- Series D 21 Dec 2023, led by Lightspeed Venture Partners $125M
- Series E 18 Feb 2026, led by Blue Owl Capital and Sixth Street $385M$2.00B post-money
Investors
Who put money in
Goldman Sachs Principal Strategic Investments led the round with 9 other firms.
Lead investor
- Goldman Sachs Principal Strategic Investments new investor
Also in the round
- Point72 Ventures backs 72 venture-backed companies new investor
- Nationwide new investor
- Allianz Life Ventures new investor
- BNY Mellon new investor
- Franklin Templeton new investor
- backs 118 venture-backed companies new investor
- backs 47 venture-backed companies new investor
- backs 71 venture-backed companies new investor
- backs 55 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
9 Series B rounds in Investment Consultants & Financial Advisors within a year either side disclosed an amount; the median was $20M, and this round was 1.5 times the median. The closest in time, other companies' Series B rounds in Investment Consultants & Financial Advisors:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Investment Consultants & Financial Advisors | 18 Apr 2019 | $11M | not disclosed | Allianz Life Ventures |
| Investment Consultants & Financial Advisors | 26 Feb 2019 | $62M | not disclosed | Edison Partners |
| Investment Consultants & Financial Advisors | 29 Jul 2019 | $12M | not disclosed | Eight Roads |
| Investment Consultants & Financial Advisors | 18 Jul 2019 | $3.7M | not disclosed | not named |
| Investment Consultants & Financial Advisors | 12 Dec 2018 | $25M | not disclosed | Ribbit |
| Investment Consultants & Financial Advisors | 21 Dec 2018 | undisclosed | not disclosed | SCHOTT AG |
| CAIS Investment Consultants & Financial Advisors | 1 Jan 2020 | $20M | not disclosed | not named |
| Investment Consultants & Financial Advisors | 9 Jul 2018 | $19M | not disclosed | not named |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Vestwell raise in its Series B round?
Vestwell raised $30M in its Series B round, announced in Apr 2019.
Who led Vestwell's Series B round?
Goldman Sachs Principal Strategic Investments led it, with Point72 Ventures, Nationwide, Allianz Life Ventures, BNY Mellon and Franklin Templeton and 4 more.
What was Vestwell's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Investment Consultants & Financial Advisors?
9 Series B rounds in Investment Consultants & Financial Advisors within a year either side disclosed an amount; the median was $20M, and this round was 1.5 times the median.
Did Vestwell raise again after this round?
Yes: a Series C round in Jul 2021 of $70M.