Why Hubble decided to switch to Ledgy

About Hubble

Hubble is a flexible workspace platform that helps businesses give their teams great places to work – whether that's full or part-time offices, or on-demand access to a network of thousands of spaces to work and meet.

The business has raised more than £10 million since it was founded in London in 2013, including a Series A round in 2019 and a £2m extension in 2021.

About Chris

Chris Frey joined Hubble as the first finance employee in 2018. Over almost five years, Chris built out Hubble’s finance function, latterly serving as Head of Finance. (Chris moved on from Hubble in 2023.)

Equity before Ledgy

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Hubble is one of the many forward-thinking companies that set out to give every permanent employee an equity stake in the business. But like many early-stage businesses, when Chris joined Hubble, “everything equity was in Excel.” Document and contract management had not been rigorously structured, and the company was lacking a single source of truth for equity data.

As an early employee, Chris was still tackling “everything from fundraising to invoices”, and he needed a way to create more structure around Hubble’s equity data. This led Chris to sign up with a different equity management software product in 2020.

Learn more about our equity management platform.

Friction with the first software solution

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Chris was keen to reap the benefits of his new equity management software. But after onboarding, he realized that when it comes to equity, the devil is often in the detail. “During the onboarding phase the provider had failed to account for a historic stock split, so the share options we had in the software didn’t reconcile with our original spreadsheets. That dented my confidence a little.” 

Continued struggles meant that Chris decided to seek out an alternative. He had heard of Ledgy already, but decided to reach out to his fellow finance leaders in the sector for additional information. He was reassured by the positive feedback he heard. “If the peers in your network are confident in a solution, it makes your decision so much easier.”

The Ledgy difference: killer customer experience and an intuitive product

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Immediately, Chris found Ledgy’s customer experience team supportive and proactive. “I had clarity on different deadlines that would apply as we moved through the onboarding process. It was really thorough and really clear, which gave me a lot of confidence.”

This collaborative relationship was enhanced by a smarter product designed to make people’s lives easier. “It sounds small, but I had never had warnings that information was missing or incomplete when I was doing a new equity grant before. Ledgy recognises when data should be in a document or grant, but isn’t. That on its own is a huge value-add.” 

And once Hubble was up and running on Ledgy, the intuitive user experience made sure Chris continued to save time. “When I was using the previous equity management tool, if I’d made an error when logging a transaction I had to delete the transaction and start again, re-uploading all the information. You can actually edit transactions on Ledgy – in general, the product is significantly more flexible than any other I’ve used.”

Switching equity solution doesn’t have to be a slog

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Thinking back, Chris was not looking forward to moving from one equity management tool to another. But Ledgy’s proactive customer experience team and simple product made the journey less arduous than Chris had expected. Now, Hubble is equipped to scale their equity plan with best-in-class equity software at hand.

Read more stories about Ledgy’s customers here.