EquityBee, a stock options funding solution for employees of startup companies has announced a $20 million Series A fundraising round, the company said Tuesday.
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The round is led by Group 11 with participation from Oren Zeev Ventures, Battery Ventures, and ICON Continuity Fund. The round brings EquityBee's total funding to more than $28 million.
Founded in 2018, EquityBee saw high triple-digit growth in 2020, growing capital raised to fund employee stock options by over 560%, and number employees funded through the platform by over 360%. EquityBee's Investor Community, which comprises of family offices, funds, and high net-worth individuals, grew by 700%.
After launching in Israel in 2018, EquityBee has grown quickly, expanding to the US market in 2020. To date, EquityBee has funded employees from hundreds of companies, including recently IPOed companies such as Airbnb, Palantir, QuantumScape, Unity, and jFrog.
"As a serial entrepreneur who has been part of the startup ecosystem for the last 15 years and experienced it from all levels, from employee to founder, I have witnessed countless colleagues and friends lose out on a significant portion of their compensation because they didn't understand the convoluted stock options system, and couldn't afford to exercise the options they worked so hard to earn. EquityBee is removing this barrier and helping startup builders access the equity they have earned" said Oren Barzilai, CEO of EquityBee.
