The Zurich-based startup Ledgy has raised a total of 22 million US dollars from investors in a series B funding round. This was led by New Enterprise Associates, a venture capital company based in Boston. Its partner Jonathan Golden will join the administrative board of Ledgy. According to a blog post by CEO of Ledgy Yoko Spirig, he will bring “incredible product experience” from Airbnb, Dropbox, and Hubspot and will be “a huge asset” in the company’s work building the definitive equity experience for companies and teams. Ledgy plans to use the funds from the financing round to “help companies scale by building the best product to run equity in multiple countries”.
Co-Founder and CEO of Ledgy Yoko Spirig explained in an interview on the company’s webpage: “Ledgy is a product for startups. As a startup, you have a lot of people who own your company: Namely founders, investors and last but not least employees, meaning that you end up with hundreds of people owning your company’s equity. Ledgy is basically a platform on which a startup can invite all its stakeholders, share information with them and manage all processes around the company’s equity.”
According to an interview with Spirig by investor Creathor Ventures, Ledgy has the potential to automate the equity investment process including legal aspects. She went on to say: “The market potential is huge.” Spirig also revealed that the company has been able to increase its customer numbers from 1,500 last year to around 2,500 today, tripling its revenue. The number of employees grew from 20 to 60 in the same period.