Ledgy raises $22 million Series B to fund European expansion
Our portfolio company Ledgy has raised a $22 million Series B funding round led by global venture capital firm, New Enterprise Associates (NEA), with our participation and with that from Sequoia Capital, Speedinvest, Visionaries Club, as well as existing angel investors.
Born out of Europe’s complex jurisdictional landscape, Ledgy empowers startup founders to build global companies by providing a key part of the infrastructure needed to attract, engage, incentivise 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 what the equity ownership component of their remuneration packages means to them.
With its ability to run different country-specific equity plans side-by-side, leadership teams can trust that the platform will treat all stakeholders fairly, and provide a single source of truth. All while relieving the financial team of complex administrative processes and enabling HR and People Teams to confidently hire cross-border talent. Besides ensuring compliance and risk-reduction, Ledgy increases transparency, tangibility and visibility into equity management, while also automating the labour-intensive tasks of creating, sharing, signing and storing of contracts for each new grant to employees.
“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 Ledgy Co-founder and CEO, Yoko Spirig. “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.”
Congrats to the founders Yoko, Ben-Elias Brandt and Timo Horstschaefer, as well as the entire Ledgy team!