After the storm: Adam Neumann invests in Israeli EquityBee

0
15


The Israeli platform enables high-tech employees to exercise options well before the long-awaited exit. After another $ 6.6 million raise, Oren Barzilai, CEO, says: “We want to replicate EquityBee’s success in the US market as well.”

Photo by Nofer Tagar

EquityBee, which allows startup employees to exercise their options package, announces the completion of a $ 6.6 million round of capital raising. The new round of investment was led by the California Group 11 Fund and participated by Battery Ventures and the British LocalGlobe Foundation alongside the company’s previous investors – including former WeWork CEO Adam Neumann. The company’s total funding so far is $ 8.3 million.

Connect employees and investors to exercise the options, now also in the US

EquityBee (EquityBee) connects employees who want to exercise their options but do not hold the necessary capital and investors. Employees enter their realization transaction information anonymously on EquityBee’s platform, and then the opportunity opens for investors to review the details and decide whether to take part in exercising the employee’s posted options.

If an investor chooses to assist the employee in exercising his options, his money will be transferred to the trustee – who will transfer it to the employee’s options. Both parties will share the profits as soon as the employee can liquidate the shares he purchased in the exercise of his options – after an IPO or exit. Which means the investor can wait months, at best; Or years, in the least good case, until a return on investment is seen.

About two thousand eligible investors are registered to EquityBee, and they come from several countries including Australia, Canada, the United Kingdom, Israel and Scandinavia. Among the companies whose employees have exercised options through the company to date: Taboola, ironSource, Payoneer and MyHeritage. CEO Oren Barzilai said that so far the company has connected hundreds of employees and investors to help them exercise their options.

EquityBee announced the announcement of the completion of the fundraising round, as well as the opening of its service in the United States. The company’s CEO, Oren Barzilai, said Talking to GeekTim Because through the fundraising company, the company has opened Silicon Valley offices as part of the announcement of the launch of the US service. In addition, the company will use recruitment to expand its staff in offices in Tel Aviv and Silicon Valley.

Oren Barzilai, CEO and co-founder of EquityBee addressed the fundraiser, saying that “The goal of the new round of investment in the company is to replicate EquityBee’s success in the US market as well. In an era when major fundraisers and startups are reaching significant offerings and exits, this has tremendous financial significance for startup employees and investors. Now, we are launching the service in the US and will also enable employees and investors in the US to enjoy the prosperity of the startups. ”

EquityBee was founded in 2018 by Oren Barzilai, CEO, Oded Golan, VP of Product, and Moody Radshkovitz, VP of Operations. In 2018, the company completed a lime round led by former WeWork CEO Adam Neumann, which also included Battery Ventures fund and investors Ron Gora, Shaul Olmert, Oren Abaxis and Tamir Carmel.

Speaking to Geekitim, Barzilai makes it clear that Neumann, who retired and reportedly won a gold parachute on the road, joined the other investors in the previous round and also participated in this round of EquityBee.



From now on, geeky are also on telegram


From now on, geeky are also on telegram
To join our telegram channel click here



Bliss of Alexis


Still disappointed by the cessation of TechTV broadcasts in Israel. Enjoy the new Star Wars movies – Don’t @ Me.

Source link
https://www.geektime.co.il/equitybee-raises-6-6-million-dollar/

LEAVE A REPLY

Please enter your comment!
Please enter your name here