Funding round
Vestwell Series D
Vestwell, which works in digital savings platform development in New York, raised $125M in a Series D round announced on 21 Dec 2023, led by Lightspeed Venture Partners. 6 firms took part. It is Vestwell's fifth venture round on record; the one before was a Series C in Jul 2021.
$125M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Vestwell did not disclose a valuation in this round. It came 29 months after Vestwell's Series C. It is 20% of the $623M Vestwell has raised in the venture rounds on record. Vestwell raised again 26 months later: a Series E round of $385M in Feb 2026, at $2.00B post-money.
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 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 this round 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
Lightspeed Venture Partners led the round with 5 other firms.
Lead investor
- Lightspeed Venture Partners backs 454 venture-backed companies new investor
Also in the round
- backs 49 venture-backed companies new investor
- backs 71 venture-backed companies new investor
- backs 47 venture-backed companies new investor
- Blue Owl Capital backs 36 venture-backed companies new investor
- HarbourVest backs 37 venture-backed companies new investor
Joined the board: Justin Overdorff (Lightspeed Venture Partners).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Investment Consultants & Financial Advisors, then Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Altruist Investment Consultants & Financial Advisors | 13 Apr 2023 | $112M | not disclosed | Insight Partners and Adams Street Partners |
| Electronical Components Manufacturing | 6 Dec 2023 | $231M | not disclosed | M&G and National Wealth Fund |
| GreyOrange Tech Companies | 20 Dec 2023 | $135M | not disclosed | Anthelion Capital |
| Medical Supply Manufacturers | 12 Dec 2023 | $50M | $209M | Avidity Partners |
| Chemicals | 19 Dec 2023 | $45M | not disclosed | Re:food |
| Aerospace and Defence | 20 Dec 2023 | $44M | not disclosed | Global Brain and Sumitomo Mitsui Banking Corporation / SMBC Venture Capital Management Co., Ltd. |
| Tech Companies | 14 Dec 2023 | $16M | not disclosed | Groupe BPCE and Crédito Agrícola |
| Surveying Services | 6 Dec 2023 | $15M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Vestwell raise in its Series D round?
Vestwell raised $125M in its Series D round, announced in Dec 2023.
Who led Vestwell's Series D round?
Lightspeed Venture Partners led it, with Fin Capital, Primary VC, FinTech Collective, Blue Owl Capital and HarbourVest.
What was Vestwell's valuation at the Series D round?
It was not disclosed.
Did Vestwell raise again after this round?
Yes: a Series E round in Feb 2026 of $385M at $2.00B post-money.