Ledgy Raises $22M Series B to Fund European Expansion

Ledgythe equity management platform for high-growth international startups, today announced a $22m (€22m/£19m) Series B funding round led by a global company venture capital, New Corporate Associates (NEA), with participation from Sequoia Capital, Speedinvest, btov, Visionaries Club and VI Partners, as well as existing angel investors. This comes a year after its Sequoia-led $10m Series A series which saw Luciana Lixandru (partner, Sequoia) join Ledgy’s board. As part of the Series B financing, Jonathan Golden, a partner at NEA, will also join Ledgy’s board of directors. Ledgy will use the funds to hire top talent, accelerate the pace of product and feature development, and solidify its market presence in Europe.

Born from the complex jurisdictional landscape of Europe, Ledgy empowers startup founders to build global businesses by providing a key piece of the infrastructure needed to attract, engage, motivate and retain top international talent. Ledgy moves stock management from high-maintenance, error-prone spreadsheets to a platform that empowers all company stakeholders (i.e. founders, investors, and employees) visibility and insight into what the equity component of their compensation packages means to them.

With its ability to manage different country-specific action plans side-by-side, leadership teams can be confident that the platform will treat all stakeholders fairly and provide a single source of truth. While relieving the finance team of complex administrative processes and enabling HR and people teams to confidently hire cross-border talent. In addition to ensuring compliance and reducing risk, Ledgy increases the transparency, tangibility and visibility of equity management, while automating the labor-intensive tasks of creating, sharing, signing and storing contracts for each new employee grant.

Ledgy integrates with secondary platform Semper, compensation benchmarking platforms Pave and Figures as well as over 40 HRIS platforms, such as Hibob, Personio and Workday. Ledgy is also the equity management partner of choice for the portfolios of more than 50 leading venture capital firms and accelerators, such as Techstars, Entrepreneur First and APX. Ledgy’s clients include some of Europe’s most exciting companies such as: Getir, Kry, Monese, Selina Finance, Gorillas, Choco, Alan, Pennylane, Scalapay, wefox and Yokoy to name a few.

“Over the past 12 months, we have experienced double-digit monthly growth. We’ve grown from 15 to 65 employees, expanded our customer base to over 45 countries and 2,500 companies, opened an office in London and strengthened our presence in Berlin, and we’re just getting started,” said the co-founder. and CEO of Ledgy, Yoko Spirig. “The participation of high-profile VCs in our Series B is important for two reasons. First, it is powerful validation of Ledgy and our strong growth in the 12 months since our Series A. Second, it reflects a significant trend in which major US investors are increasing their exposure to the European continent by partnering with best companies from what is a vibrant and fast-growing startup ecosystem.

Jonathan Golden, Partner at NEA, added, “Through my lens as an investor at NEA, combined with my past experience at category-defining companies like Airbnb, Dropbox and Hubspot, I have seen the pivotal role ownership in the creation of sustainable enterprises. The challenge of managing capital is particularly acute in Europe, with different legal structures governing capital in each country. Ledgy has created a smart and powerful equity software platform and built an incredible, best-in-class team to support it. Yoko, Ben and Timo understand the challenges businesses face as they evolve, and we’re excited to partner with the Ledgy team as they continue to reinvent the way businesses think about fairness and the property.

Artificial intelligence company Peak, which employs more than 350 people globally, raised $75 million in Series C funding in 2021, when it began working with Ledgy. John Fraser, Peak’s Chief Financial Officer, said, “Corporate culture, team engagement and employee well-being have always been extremely important to us at Peak. Part of that is always striving to create a more productive and meaningful ownership culture within the team. Working with Ledgy, we created a new company-wide stock option award. It was well received and took days – not hours, days – from my team’s process. Compared to what we had before, it’s day and night.

Comments are closed.