Silver Lake Waterman Backs Vestwell as Strategic Investment Partner to Drive Innovation and Accelerate Growth in the Savings Industry
Today, we are excited to announce Silver Lake Waterman has joined Vestwell, a leading digital recordkeeping platform powering workplace and state savings plans, as a strategic investment partner.
Vestwell continues to attract some of the industry’s most influential partners as the firm experiences high growth. The partnership with Silver Lake Waterman builds on Vestwell’s strong momentum, allowing Vestwell to accelerate innovation and continue reshaping the savings industry.
“We are thrilled to partner with Silver Lake Waterman, given the breadth and depth of the value they bring to providing flexible expansion capital to later-stage, technology-enabled growth companies,” said Aaron Schumm, Founder and CEO of Vestwell. “Silver Lake Waterman’s reputation and approach to sustainable, inclusive growth complements our long-term vision of success. Together, we look forward to expanding our savings offerings to amplify our support of the small businesses and individuals we serve.”
“We’ve seen Vestwell continue to innovate and solve some of the most complex challenges in the savings industry,” said Shawn O’Neill, Managing Director at Silver Lake Waterman. “We’re excited to partner with Vestwell and its executive team to strategically scale the firm and further accelerate their growth initiatives across the savings industry.”
Vestwell welcomes Silver Lake Waterman on the heels of several strategic and successful partnerships this year, including a partnership with J.P. Morgan to help power Everyday 401(k), Chase’s small business 401(k) workplace savings platform, as well as other large advisory partners such as Carson Wealth, RBC Custody & Clearing, Cambridge, and Commonwealth Financial Network. The Silver Lake Waterman partnership also amplifies Vestwell’s growth in the state savings industry, where the firm has over 30 state-sponsored savings programs including California’s CalABLE, one of the largest independent ABLE programs in the nation.
Building on Vestwell’s significant upgrades earlier this year to its proprietary recordkeeping platform, the Company plans to drive further innovation and is hiring across product development, engineering, sales, and marketing teams. Find all open opportunities at www.vestwell.com/careers.
About Silver Lake Waterman
Silver Lake Waterman is part of Silver Lake, the global leader in technology investing with more than $98 billion in combined assets under management and committed capital and a team of professionals based in North America, Europe and Asia. Silver Lake Waterman 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 and Silver Lake, please visit www.silverlake.com.
