EquityBee, a Palo Alto, Calif.- and Tel Aviv, Israel-based employee-focused stock options funding solution, raised $55m in Series B funding. The round, which brought total funding to $83M, was led by existing investor Group 11, with participation from new investors Israel-based Greenfield Partners, as well as existing investors Battery Ventures, Local Globe/Latitude, Altair and ICON.
Through its proprietary financial technology-driven platform, EquityBee 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’ liquidity events and actually get what they earned.
“With so many exit events occurring, including acquisitions and SPACs, the startup equity system remains inequitable,” said Oren Barzilai, EquityBee co-founder and CEO. “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.”
The company intends to use the funds to advance development of its proprietary technology platform, expand product and service offerings, and accelerate leadership hiring in its Palo Alto- and Tel Aviv-based offices.
Announcement: EquityBee Raises $55M for Employee Stock Options