Zurich-based Ledgy raised USD 22 million in a Series B led by New Enterprise Associates. Speedinvest joined as a new investor, while Sequoia Capital, 20VC, btov and VI Partners continued their backing. NEA's Jonathan Golden joined the board. Ledgy said its team had grown from around 20 people to more than 60 during the preceding year.
The funding was intended to improve how companies administer employee equity across multiple countries and automate the work of teams handling ownership information. Ledgy also planned to make equity information more accessible to employees, rather than leaving it in internal spreadsheets. Its product addresses the administrative complexity of distributing and managing ownership as companies expand internationally and build distributed teams.
