$22 million Series B funding round
I am delighted to share the news that Ledgy has raised a $22 million Series B funding round, led by New Enterprise Associates. 🎉
The last few months have been an interesting time for the early-stage ecosystem, in Europe and around the world. But we are convinced that the creativity and innovation of early-stage companies will continue to change the world for the better. From our first conversations with NEA, we immediately saw that they shared our vision of entrepreneurship as central to solving the world’s most profound challenges.
I am also very excited to welcome Jonathan Golden to Ledgy’s board. Jonathan has incredible product experience from his time with exceptional companies like Airbnb, Dropbox and Hubspot. He will be a huge asset in our work building the definitive equity experience for companies and teams.
As well as welcoming NEA and Speedinvest as new Ledgy investors, we are so happy that our other leading investors – Sequoia Capital, 20VC, btov and VI Partners – have continued their partnership with us. Each of these investors has helped Ledgy develop and scale in so many different ways since we raised our Series A round last year.
Through our fundraising process, it became even more clear that although more European companies are founded with global ambitions, attracting and retaining the best talent in Europe is still extremely complex. So what are we planning to do with the money we’ve raised?
- We’re going to help companies scale by building the best product to run equity in multiple countries. Building a company in one market is like reading a single page of a novel. Unlocking the ability to scale equity globally has so many positive ripple effects for companies. The pandemic drove people to seek out-of-the-box solutions to keeping business flowing. The last couple of years have already shown that distributed teams tapping into a global talent pipeline can achieve amazing things. We’re going to take it a step further by making it trivial to fairly roll out equity to every team member, wherever they are.
- We’re going to make it easy for every stakeholder who touches equity to automate time-consuming processes. For equity to really mean something, equity data can’t be hidden away in dusty, insecure spreadsheets. To build cultures of ownership in Europe and beyond, we have to make it easier for every team that handles equity processes to get work done. Equity is not just a financial thing; it’s a profound cultural multiplier. We’re going to build an equity product that reflects just how many people handle equity in a company, and give them all a transformative experience.
- Finally, we will accelerate the ecosystem’s understanding of equity. Employees deserve to have the best, most relevant equity insights on tap. By fostering incredible partnerships, building stellar resources and improving equity transparency in companies, we want to make sure everyone with equity understands why their stake matters.
Of course, our incredible customers have been a constant source of inspiration as we’ve continued developing the best equity management product. At each weekly all-hands meeting, we make a point of taking the whole company through one of our customers’ stories. Every week, we are surprised and impressed by the incredible businesses our customers are building. It’s always meaningful to step back and reflect on the fact that each Ledgy customer dedicates time and effort to making sure their equity is fair and ready to scale. I would like to say a huge thank you to every single one of our customers for their trust and support in Ledgy.
But the final word has to go to our amazing team of Ledgistas, who have worked incredibly hard to build an industry-leading product that users love. The team has grown from around 20 people to more than 60 in the last year, and we’ve managed to have a lot of fun as we’ve scaled! We are all excited to keep pushing to build a category defining product and take the pain out of equity management for even more companies in the months and years ahead.
We are more excited than ever about the future. Here’s to continued success in the months ahead!
Stay up to date! 🎉
Subscribe to our newsletter and receive the latest insights on the equity world