Vestwell raises $385 million to power the future of saving

Rhea-AI Summary

Vestwell (NYSE:OWL) raised $385 million in a Series E on Feb 18, 2026, led by Blue Owl Capital and Sixth Street Growth, doubling its valuation since 2023 and bringing total capital to $660 million. The company reports 2 million+ active savers, $50 billion in assets, and $200 million in annual recurring revenue while growing profitably.

The funding will expand distribution, AI-driven personalization, and new savings pathways across payroll, benefits, institutions, and government programs.

Positive

• $385M Series E led by Blue Owl and Sixth Street Growth
• Valuation doubled since 2023 Series D
• 2M+ active savers on platform
• $50B in assets administered
• $200M annual recurring revenue and profitable growth
• Nearly 30,000 plans added via Accrue 401k acquisition

Negative

• None.

News Market Reaction – OWL

+1.90%

31 alerts

+1.90% News Effect

-4.8% Trough in 6 hr 15 min

+$358M Valuation Impact

$19.20B Market Cap

1.1x Rel. Volume

On the day this news was published, OWL gained 1.90%, reflecting a mild positive market reaction. Argus tracked a trough of -4.8% from its starting point during tracking. Our momentum scanner triggered 31 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $358M to the company's valuation, bringing the market cap to $19.20B at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Series E funding: $385 million Annual recurring revenue: $200 million Assets administered: $50 billion +5 more

8 metrics

Series E funding $385 million Capital raised in latest Vestwell round led by Blue Owl Capital and Sixth Street Growth

Annual recurring revenue $200 million Vestwell annual recurring revenue milestone mentioned in article

Assets administered $50 billion Vestwell assets administered across workplace, institutional, and government channels

Total capital raised $660 million Cumulative capital Vestwell has raised including the Series E

Active savers 2 million Number of active savers supported by Vestwell-powered programs

Savings gap $50 trillion Stated U.S. savings gap Vestwell aims to address

Plans via acquisition 30,000 plans Plans added through the Accrue 401k acquisition noted in article

Government programs 40 programs Government programs leveraging Vestwell infrastructure

Market Reality Check

Price: $10.81 Vol: Volume 19,559,571 is 0.73...

normal vol

$10.81 Last Close

Volume Volume 19,559,571 is 0.73x the 20-day average of 26,960,875 shares. normal

Technical Price $12.08 is trading below the 200-day MA of $17.17 and 50.25% below the 52-week high of $24.28.

Peers on Argus

OWL was down 1.79% while peers were mixed: CG -1.13%, TPG -4.6%, TROW -0.34%, an...

OWL was down 1.79% while peers were mixed: CG -1.13%, TPG -4.6%, TROW -0.34%, and RJF/STT were roughly flat. Moves do not indicate a unified sector trend.

Historical Context

5 past events · Latest: Feb 11 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 11	Strategy fund close	Positive	-2.8%	Final close of BOSE strategy with over $3 billion in commitments.
Feb 10	Investment partnership	Positive	-2.8%	New Hearthstone residential land banking partnership with Blue Owl managed funds.
Feb 05	Earnings results	Positive	-3.6%	Record fundraising, $17B Q4 and $56B 2025 commitments, AUM above $300B.
Jan 27	Conference appearance	Neutral	-0.6%	Announcement of presentation at Bank of America 2026 Financial Services Conference.
Jan 16	Co-development deal	Neutral	-3.6%	New Era Energy & Digital partnership to co-develop 1+ GW hyperscale data campus.

Pattern Detected

Recent OWL news, including fundraising milestones and partnerships, often coincided with negative next‑day price reactions, suggesting a pattern of weak trading follow‑through on positive headlines.

Recent Company History

Over the last month, Blue Owl Capital reported record fundraising, crossing $300 billion of AUM and raising $17 billion in Q4 and $56 billion across 2025, alongside a $0.225 dividend per Class A share. It also closed over $3 billion for its Blue Owl Strategic Equity strategy and entered a new residential land banking partnership via funds it manages. Despite these constructive updates, OWL saw negative 24-hour price reactions to several of these announcements.

Market Pulse Summary

This announcement highlights Blue Owl Capital’s role as lead investor in Vestwell’s $385 million Ser...

Analysis

This announcement highlights Blue Owl Capital’s role as lead investor in Vestwell’s $385 million Series E, supporting a platform with more than 2 million active savers, over $50 billion in assets, and $200 million in annual recurring revenue. In recent months OWL also closed over $3 billion for a strategic equity strategy and reported AUM above $300 billion. Investors may watch how such technology-enabled relationships contribute to long-term capital formation and fee growth across Blue Owl’s platform.

Key Terms

series e, annual recurring revenue, able accounts

3 terms

series e financial

"Vestwell, the infrastructure platform powering America's modern savings economy, has raised $385 million in Series E funding."

Series E is a late-stage private funding round where a company raises new capital after several earlier rounds. For investors, it signals the business is pursuing further growth, restructuring, or more time before a public sale; it can offer access to shares at a mature valuation but may carry higher risk if earlier funding didn’t reach expected milestones. Think of it as a later-stage “top-up” loan to fuel the next leg of growth.

annual recurring revenue financial

"Vestwell has surpassed $200 million in annual recurring revenue and continues to grow profitably."

Annual recurring revenue is the predictable amount of money a company expects to earn each year from ongoing customer subscriptions or contracts. It helps businesses understand how much steady income they can count on, much like a subscription service that charges customers every month or year. This figure is important because it shows the company's stability and growth potential.

able accounts regulatory

"to ABLE accounts that protect benefits for people with disabilities—delivered through a single, modern infrastructure layer."

ABLE accounts are tax-advantaged savings accounts for people with significant disabilities that let beneficiaries save and spend money on qualified disability-related costs without losing eligibility for public benefits. Think of them as a tax-free piggy bank whose balance can be invested and grow over time; for investors, ABLE programs create demand for financial products and services and can influence consumer spending and long-term savings patterns within a defined population.

AI-generated analysis. Not financial advice.

The Series E doubles Vestwell's valuation as the company surpasses 2 million active savers, $50 billion in assets, and $200 million in annual recurring revenue

NEW YORK, Feb. 18, 2026 /PRNewswire/ -- Vestwell, the infrastructure platform powering America's modern savings economy, has raised $385 million in Series E funding. The round was led by Blue Owl Capital and Sixth Street Growth, with participation from new and existing investors, including Neuberger Berman, SLW, Morgan Stanley, Franklin Templeton, TIAA Ventures, and HarbourVest. JPMorgan was placement agent and structuring agent for Vestwell in connection with the financing.

The financing doubles Vestwell's valuation since its 2023 Series D and brings total capital raised to $660 million. Vestwell has surpassed $200 million in annual recurring revenue and continues to grow profitably. The financing reflects investor confidence in Vestwell's role as the infrastructure layer for how Americans save.

Vestwell's growth comes at a critical time, as millions of Americans remain financially vulnerable and under-prepared for emergencies and major life milestones such as college education and retirement.

What This Capital Unlocks

Vestwell is expanding its distribution across all channels where income is earned and benefits are delivered, while advancing intelligent, AI data-driven experiences and extending savings pathways beyond retirement. By embedding savings more deeply into payroll, benefits platforms, financial institutions, and government-led public programs, Vestwell's platform reaches workers and families where saving actually happens.

The company is also expanding access to more sophisticated, professionally managed investment solutions. These capabilities—historically reserved for larger, institutional plans—move beyond basic, age-based defaults to incorporate a broader set of personalized factors tied to long-term retirement income goals. As a result, more employers and savers can benefit from a tailored, holistic investment approach using Vestwell's award-winning technology.

Ongoing investment in AI-native capabilities personalizes guidance, automates administration, and surfaces actionable insights for savers and their employers. Together, these advances enable saving to start earlier, adapt more holistically to life's needs, and operate as a connected, end-to-end experience.

"We're focused on an ambitious goal to close the $50 trillion savings gap in America," said Aaron Schumm, founder and CEO of Vestwell. "This capital allows us to move faster on the work that matters most. It reflects strong confidence from leading investors in our unified savings platform and our ability to scale across payroll, partners, and products. We're deepening the intelligence behind the platform and expanding access beyond retirement so more people can save in ways that best fit their lives."

A New Approach to Saving

For decades, saving in America has been fragmented. Separate systems for retirement, emergencies, education, disability, and long-term goals each had their own rules, vendors, and barriers to participation.

Today, Vestwell supports more than 2 million active savers and administers over $50 billion in assets through employers, financial institutions, advisors, payroll providers, and government agencies nationwide. Its innovations lower barriers to participation, deliver measurable outcomes, and expand access to modern savings across income levels, languages, and communities.

A secure retirement remains foundational, but achieving that goal requires a broader approach to saving that starts with the first dollar. Vestwell's platform already powers a broad set of savings pathways—from workplace emergency savings and programs that seed early wealth for college savings and student debt solutions, to ABLE accounts that protect benefits for people with disabilities—delivered through a single, modern infrastructure layer.

"Vestwell has built a resilient platform with strong underlying economics and a clear path for continued expansion," said Tim DeGrange, a principal of Blue Owl Capital. "The company's ability to scale profitably while broadening both its product offering and distribution reflects the durability of its model and the strength of its execution. Vestwell is building long-term infrastructure for the savings ecosystem, enabled for today's age of AI."

As adoption accelerates across both the private and public sectors, Vestwell has emerged as the connective layer across how saving works in the U.S.

At Scale Today

• More than 2 million active savers using Vestwell-powered programs
• More than $50 billion in assets administered across workplace, institutional, and government channels
• Nearly 30,000 plans added through the Accrue 401k acquisition
• More than 40 government programs leveraging Vestwell infrastructure
• Multilingual experiences across more than 20 languages and AI-powered assistance delivering real-time, personalized support

"Vestwell's platform has reached an important inflection point, combining innovation and scale with the flexibility to support a broad and evolving set of savings use cases," said Alex Goodman, principal at Sixth Street Growth. "As demand for integrated savings solutions accelerates across employers, advisors, and partners, we believe Vestwell is well-positioned to build on its momentum and expand its impact over time."

"The Vestwell team has built a leading savings platform that is extending its reach across major payroll providers with the Accrue 401k acquisition," said Michael Noryko, managing director at SLW. "Aaron Schumm, Dave Sheen and the leadership team at Vestwell have a long track record of building value with successful acquisitions. They are well positioned to be the backbone for the modern savings economy and we look forward to extending our partnership."

About Vestwell
Vestwell is the backbone of the modern savings economy. Vestwell is a financial technology company that makes it easier for more Americans to save for life's most important moments—from retirement to education and healthcare. Founded in 2016, Vestwell's platform removes traditional barriers to saving, making it accessible, efficient, and approachable for everyone.

Vestwell provides a comprehensive suite of workplace savings solutions, including retirement plans, student loan repayment benefits, and specialized accounts for education, emergencies, and disability savings.

Trusted by financial advisers, employers, payroll providers, financial institutions, and government agencies. With a commitment to closing the savings gap and fostering a secure financial future for all, Vestwell provides the accessible savings technology everyone deserves.

For more information, visit www.vestwell.com.

About Blue Owl Capital Inc.
Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives^®. With over $307 billion in assets under management as of December 31, 2025, we invest across three multi-strategy platforms: Credit, Real Assets and GP Strategic Capital. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.

Together with approximately 1,365 experienced professionals globally, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com or LinkedIn: www.linkedin.com/company/blue-owl-capital

About Sixth Street Growth
Sixth Street Growth provides growth equity and bespoke capital solutions to mid- and late-stage technology companies. Sixth Street Growth is the dedicated growth investing platform of Sixth Street, a leading global investment firm with over $125 billion in assets under management and committed capital. Sixth Street has invested over $10 billion in more than 70 companies through its Growth franchise since inception. For more information, and additional disclosures, visit www.sixthstreet.com/growth, and follow Sixth Street on LinkedIn.

About SLW
SLW focuses on providing flexible expansion capital to later-stage growth companies in the technology and technology-enabled industries. For more information about Silver Lake Waterman, please visit www.slw.vc.

View original content to download multimedia:https://www.prnewswire.com/news-releases/vestwell-raises-385-million-to-power-the-future-of-saving-302691042.html

SOURCE Vestwell

FAQ

How much did Vestwell (OWL) raise in the Series E financing on February 18, 2026?

Vestwell raised $385 million in a Series E on February 18, 2026. According to the company, the round was led by Blue Owl Capital and Sixth Street Growth and brings total capital raised to $660 million.

What valuation change did Vestwell (OWL) report after the Series E funding?

The Series E financing doubled Vestwell's valuation since its 2023 Series D. According to the company, the new round reflects investor confidence and scales its unified savings platform and AI capabilities.

What scale metrics did Vestwell (OWL) disclose with the February 2026 funding?

Vestwell reported 2 million+ active savers, $50 billion in assets, and $200 million in annual recurring revenue. According to the company, these metrics underpin its expansion across payroll, benefits, and government programs.

Who led Vestwell's Series E and which notable investors participated in the OWL round?

The round was led by Blue Owl Capital and Sixth Street Growth, with participation from Neuberger Berman, SLW, Morgan Stanley, Franklin Templeton, TIAA Ventures, and HarbourVest. According to the company, JPMorgan served as placement and structuring agent.

How will Vestwell use the $385M raised in the February 2026 Series E?

Vestwell plans to expand distribution, deepen AI-driven personalization, and extend savings pathways beyond retirement. According to the company, funding targets embedding savings across payroll, benefits platforms, financial institutions, and government programs.

What acquisitions or product expansions did Vestwell (OWL) cite alongside the funding announcement?

Vestwell noted nearly 30,000 plans added via the Accrue 401k acquisition and expansion into government programs. According to the company, these moves broaden product distribution and access across employers and public programs.