LemonEdge has raised a $21m (£15.8m) Series A to accelerate product development and continued expansion in the US and Europe.
LemonEdge is a fund accounting and operations system built for private markets. Where legacy systems left the hardest processes offline, the firm says it brings them onto the system in real time and is automated, auditable and governed inside a single system of record.
Blackstone Innovations Investments, Blackstone’s early-stage investment arm, led the funding round. BNY and Sidekick Partners also participated.
As LemonEdge enters its next phase of growth, the company has also strengthened its senior leadership team by appointing David T. O’Malley as CEO and board chair and Katharine Briggs as chief growth officer.
“LemonEdge was built to simplify the complexity of the rapidly scaling private markets space, with global private market AUM forecast to reach $26.7tn (£20tn) by 2030. Legacy systems froze, and, as a result, many of the most sophisticated private market firms in the world are being held back by tools that were not designed for the complexity they face today,” says O’Malley.
“With this new funding, we plan to continue to address these major gaps and accelerate growth over the next 12 months by bringing on a significant number of new clients and rapidly deploying our 2026 and 2027 innovation roadmap.”
