Yoko Spirig, Chief Executive Officer & Co-Founder at Ledgy, notes that the firm has raised a $22 million Series B funding round, led by New Enterprise Associates.
The company’s CEO added that she’s delighted to share the news and that in the last few months have been an “interesting time” for the early-stage ecosystem in Europe and around the world.
But they’re “convinced that the creativity and innovation of early-stage companies will continue to change the world for the better.” From their first conversations with NEA, they immediately saw that they shared their vision of entrepreneurship “as central to solving the world’s most profound challenges.”
Yoko is also very excited “to welcome Jonathan Golden to Ledgy’s board.”
Jonathan has extensive 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, the team is happy that their other key investors – Sequoia Capital, 20VC, btov and VI Partners – have continued their partnership with them.
Each of these investors has “helped Ledgy develop and scale in so many different ways since we raised our Series A round last year,” Yoko added.
As noted in a blog post:
“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?”
The firm added:
“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.”
They also mentioned:
“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.”
For more details on this update, check here.