Ledgy, a Zurich, Switzerland-based equity management platform built for growing companies, announced that it raised $22 million in Series B funding.
The round was led by New Enterprise Associates (NEA), with participation from Sequoia Capital, Speedinvest, btov, Visionaries Club, and VI Partners, as well as existing angel investors.
Ledgy will use the funds to hire top-class talent, increase the pace of product and feature development, and solidify its market presence in Europe.
“In the past 12 months, we have enjoyed double-digit monthly growth. We have gone from 15 to 65 employees, expanded our customer base to over 45 countries and 2,500 companies, opened a London office, and grown our presence in Berlin, and we’re just getting started,” said Yoko Spirig, Co-founder and CEO of Ledgy. “The participation of top tier VCs in our Series B is significant for two reasons. First, it’s a powerful validation of Ledgy and our strong growth in the 12 months since our Series A. Second, it reflects a significant trend in which leading US investors are increasing their exposure to the European continent by partnering with the best companies in what is a fast-growing and vibrant startup ecosystem.”
Ledgy integrates with secondary platform Semper, compensation benchmarking platforms Pave and Figures, and over 40 HRIS platforms, such as Hibob, Personio, and Workday. Ledgy is also the equity management partner of choice for the portfolios of over 50 leading venture capitalist firms and accelerators, such as Techstars, Entrepreneur First, and APX. Ledgy also ranked third at the TOP 100 Swiss Startups Awards at the beginning of the month.
Jonathan Golden, Partner at NEA, will join the Ledgy board as part of the funding.
Company: Ledgy AG
Raised: $22.0M
Round: Series B
Funding Month: September 2022
Lead Investors: New Enterprise Associates (NEA)
Additional Investors: Sequoia Capital, Speedinvest, btov, Visionaries Club, and VI Partners
Company Website: https://ledgy.com/
Software Category: Equity Management Software
About the Company: Ledgy is an equity management platform that helps high-growth companies manage their cap table, employee participation plans, funding rounds, and investor relations. Ledgy empowers startup founders to build global companies by providing a key part of the infrastructure needed to attract, engage, incentivize, and retain top international talent. Ledgy moves equity management off of high-maintenance, error-prone spreadsheets and onto a platform that gives all company stakeholders (i.e., founders, investors, and employees) visibility and insight into the equity ownership component of their remuneration packages. The company already works with over 2,500 companies in 45 countries, including Getir, Monese, Selina Finance, Gorillas, Choco, Alan, Pennylane, and Scalapay.
Source: https://www.venturelab.swiss/Ledgy-raises-USD-22-million-Series-B-to-fund-European-expansion-of-its-equity-management-platform-for-highgrowth-international-startups