EquityBee, a Palo Alto, CA- and Tel Aviv, Israel-based provider of a startup employees’ stock options funding solution, raised $20M in Series A financing.
The round, which brought total funding to more than $28m, was led by Group 11 with participation from Oren Zeev Ventures, Battery Ventures, and ICON Continuity Fund.
The company intends to use the funds to accelerate growth, make additional hires across all departments, and expand product offerings.
Founded in 2018 and led by Oren Barzilai, CEO, EquityBee provides funding to startup employees who have helped build pre-IPO companies by leveraging its Investor Community. The employees receive 100% of the needed capital to cover the cost of exercising their stock options and taxes, and in return the investors and employees share future gains in liquidity events.
After launching in Israel in 2018, EquityBee has grown quickly, expanding to the US market in 2020. To date, the company has funded employees from hundreds of companies, including recently IPOed companies such as Airbnb, Palantir, QuantumScape, Unity, and jFrog among others.