Vestwell

Vestwell

Digital platform for modern retirement plans

About Vestwell

Simplify's Rating
Why Vestwell is rated
B+
Rated B on Competitive Edge
Rated A on Growth Potential
Rated B on Differentiation

Industries

Fintech

Financial Services

Company Size

201-500

Company Stage

Series D

Total Funding

$237.5M

Headquarters

New York City, New York

Founded

2016

Overview

Vestwell modernizes retirement plans for businesses and their employees through a digital platform that simplifies management and administration. Employers benefit from streamlined onboarding and fiduciary investment management services, while employees enjoy customizable investment options and a user-friendly interface to monitor their plans. Unlike competitors, Vestwell offers a comprehensive suite of services with transparent pricing, covering everything from proposals to compliance. The company's goal is to leverage technology to make retirement planning more efficient and accessible.

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Simplify's Take

What believers are saying

  • Partnership with TIAA expands Vestwell's offerings to include lifetime income solutions by 2025.
  • Collaboration with John Hancock Retirement enhances digital retirement solutions with FutureStep launch.
  • Growing demand for digital retirement solutions boosts Vestwell's market potential.

What critics are saying

  • State-sponsored auto-IRA programs may reduce demand for Vestwell's private solutions.
  • Complexity in 401k management could deter businesses from adopting Vestwell's solutions.
  • Intensifying fintech competition pressures Vestwell to continuously innovate its offerings.

What makes Vestwell unique

  • Vestwell offers a comprehensive digital platform for retirement plan management.
  • The company provides customizable investment options tailored to individual employee needs.
  • Vestwell integrates fiduciary services to limit employer liability in retirement plan management.

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Funding

Total Funding

$237.5M

Above

Industry Average

Funded Over

5 Rounds

Notable Investors:
Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.
Series D Funding Comparison
Above Average

Industry standards

$77M
$70M
Twilio
$80M
Handshake
$100M
Affirm
$125M
Vestwell

Benefits

Health Insurance

Paid Vacation

Hybrid Work Options

401(k) Retirement Plan

Performance Bonus

Company Equity

Growth & Insights and Company News

Headcount

6 month growth

↓ -2%

1 year growth

↑ 0%

2 year growth

↑ 0%
PRWeb
Jun 24th, 2025
Vestwell Launches Retirement Solution for Amazon Delivery Service Partners (DSPs) Program

Vestwell launches retirement solution for Amazon Delivery Service Partners (dsps) program.

Provisioner Online
May 20th, 2025
Wayne-Sanderson Farms partners with Vestwell on farmer retirement savings program

Wayne-Sanderson Farms is partnering with Vestwell to launch a new retirement savings program designed specifically for Wayne-Sanderson Farms' more than 2,000 farm partners.

PRWeek
Feb 3rd, 2025
Vestwell names Nicole Wood VP of comms

NEW YORK: Digital savings platform Vestwell has promoted Nicole Wood to VP of communications.

PR Newswire
Jan 14th, 2025
John Hancock Retirement Announces Partnership With Vestwell, Launching Futurestep™ To Expand Plan Offering

BOSTON, Jan. 14, 2025 /PRNewswire/ - John Hancock Retirement, a company of Manulife Wealth & Asset Management, is pleased to announce FutureStep™, a new open-architecture retirement plan offering. As part of a multi-year transformation strategy to expand its capabilities and in keeping with its steadfast commitment to financial intermediaries, including third-party administrators (TPAs), retirement advisors, and sponsors, the firm has signed an agreement with Vestwell to bring this new solution to market.FutureStep will be an addition to the firm's existing plan suite, advisor-centric, and a fully digital new plan option designed with the support and experience of John Hancock Retirement.Vestwell's technology powers FutureStep by John Hancock Retirement, which will be available in early 2025. This offering is designed to help advisors scale their practices while providing a simple, modern interface for seamless interactions across the advisor, employer, and saver portals.TPAs, retirement advisors, and sponsors will see competitive pricing and opportunity for enhanced employer engagement and experience high-touch service within the new offering. They'll also receive support for personalized onboarding, ongoing administration and maintenance, robust payroll integration options, and assistance in navigating complex legislation."This is an exciting time for us, and we could not be more pleased to partner with Vestwell to help bring retirement planning to more employers who are helping their employees prioritize retirement," said Wayne Park, CEO, John Hancock Retirement. "As a multiplatform provider, we've added FutureStep so we can continue to expand the number of plans and participants that we serve, as a complement to our existing plan options.""We're focused on being the partner of choice for our distribution partners, TPAs, and plan sponsors by helping to make retirement planning easier and more effective," said Gary Tankersley, Head of the Core Segment, John Hancock Retirement

401k Specialist Magazine
Jan 14th, 2025
John Hancock Retirement, Vestwell Partner on 'FutureStep' Launch

As part of a multi-year transformation strategy to expand its capabilities and in keeping with its commitment to financial intermediaries, including third-party administrators (TPAs), retirement advisors, and plan sponsors, John Hancock Retirement, a Boston-based company of Manulife Wealth & Asset Management, signed the agreement with New York City-based fintech Vestwell to bring this new solution to market.

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