Equa announced on Tuesday it has raised $2.2 million through a private investment round to support its mission of providing company founders and investors a single-source solution for governance and equity management.
Founded in 2018, Equa claims to be the leading governance platform that scales with organizations from formation to day-to-day governance, facilitating dynamic document and cap table management, easy equity distribution, investment, and issuance.
“Equa is on a mission to improve organizations governance across departments and shareholders by innovating how business stakeholders structure, share, and update agreements and investments.”
Equa further revealed it already has more than 100 client organizations using its governance platform for a growing base of over 750 users, which includes company executives, employees, and investors/shareholders. Some of these early clients have joined Equa’s Customer Advisory Board, such as CoPeace CEO, Craig Jonas, Anthem Holdings CEO, Anthem Blanchard, and AIKON CEO, Marc Blinder who are all using Equa’s Cap Table Management solution within their own organizations.
While speaking about the platform and investment round, Equa CEO, Shawn Owen, stated that startups need to move quickly, but are often “stymied” by the burden of sharing and collating agreements. These tasks, along with keeping up with taxes, accounting, and regulations slow down ventures just when they need to pick up the pace.
“Equa will help solve these problems, which is why we used it for our own fundraising efforts and we are seeing such quick adoption in our user base.”
Dean Steinbeck, COO of Horizen Labs, one of Equa’s investors and a technology partner, also observed:
“Like Equa, we want to break through the hype and bring the benefits of blockchain technology to business applications and can’t think of a better place to start than with tackling challenges related to company formation and equity management. This is a truly exciting application of our technology.”