Israeli employee-focused stock options funding solution company EquityBee has announced the completion of a $55 million Series B financing round led by Group 11, with participation from Greenfield Partners, Battery Ventures, Local Globe/Latitude, Altair and ICON. This brings the company's total funding to $83 million.
The new funds will be used for further development of EquityBee’s proprietary technology platform, expansion of its product and services, and additional hiring in its Tel Aviv and Palo Alto offices.
EquityBee's platform provides funding to startup employees of growth stage to pre-IPO companies. By working with EquityBee, startup employees receive capital to exercise stock options before they expire, which enables them to participate in their companies’ financing events and receive what they have earned.
Since 2020, EquityBee has seen over 500% year over year growth in total capital raised from its Investor Network to exercise employee stock options. The number of employees funded through the platform has increased by over 350%. EquityBee's Investor Network, including family offices, funds, and high net-worth individuals, grew by over 430%.
EquityBee was founded in 2018 by CEO Oren Barzilai, CPO Oded Golan and COO Modi Radashkovich.
Barzilai said, "With so many exit events occurring, including acquisitions and SPACs, the startup equity system remains inequitable. We launched EquityBee to empower more employees to share in the success of the businesses they helped build. EquityBee will continue to provide them the tools required to better understand their earned options and the freedom to take part in augmenting their net-worth."
Published by Globes, Israel business news - en.globes.co.il - on September 29, 2021
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