Zurich, Switzerland-based Ledgy, an equity management platform, announced on Wednesday that it has secured $22M in a Series B round of funding led by New Enterprise Associates. Other investors, including Sequoia Capital, Speedinvest, btov, Visionaries Club, and unnamed angels, also participated in the round.
The announcement comes a year after raising $10M in a Series A round led by Sequoia.
The Swiss company says it will use the funds to scale further across Europe, hire talent, and accelerate product and feature development. As a part of the funding round, Jonathan Golden, Partner at NEA, will join 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,” says Yoko Spirig, CEO and co-founder of Ledgy.
Ledgy: What you need to know
Founded in 2017 by Yoko Spirig, Ben-Elias Brandt, and Timo Horstschäfer, Ledgy is an equity management platform that aims to make company ownership more transparent.
The platform allows companies scaling internationally to manage equity fairly for all stakeholders, no matter the regulatory system, currency, etc. Simply said, the Ledgy platform allows all shareholders in a company to keep track of their ownership.
Founders, CFOs, and people teams use Ledgy to empower employees with ownership, model complex financing rounds, and manage investor relations.
In addition, the platform can manage different country-specific equity plans simultaneously, which will help startups that have a global reach. The company has tweaked its product for Austria, Germany, and Switzerland.
Moreover, there will be more country-specific releases shortly for startups based in the UK and France.
Some of Europe’s biggest scale-ups, including ‘unicorns’ wefox, Kry, Bitpanda, and Pleo, use Ledgy to close funding rounds, engage investors, and empower employees.
Ledgy is used by over 2,500 businesses that have collectively opened up ownership to thousands of employees. The company also offers VC and angel investors the ability to manage their portfolios of investments through a single hub and collaborate with companies on reporting and KPI.
“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,” she says.