Vestwell has raised $125 million in a Series D fundraising round led by Lightspeed Venture Partners.

The funding will also go toward expanding Vestwell’s work on state-savings-program initiatives while creating other savings programs for partners, employers, and savers using Vestwell and for financial institutions using their recordkeeping services as a white label product, the firm noted. Along with Lightspeed, funding came from Fin Capital, Primary Venture Partners, and FinTech Collective, as well as newcomers Blue Owl and HarbourVest, according to Vestwell.