LemonEdge, a modern fund accounting platform built for private markets, has raised £16 million in a Series A round led by Blackstone Innovations Investments, with participation from BNY and long-time investor Sidekick Partners. The round brings total funding raised to date to £20+ million and will accelerate product development and continued expansion in the US and Europe.
Legacy systems left the hardest accounting processes offline, leaving private market firms to handle them outside their core records. Bringing those processes onto the system in true real time, LemonEdge keeps them automated, auditable and governed inside a single system of record, with native AI capabilities supporting investor reporting and analytics and a longer-term aim of full operational intelligence across the fund lifecycle. Private equity firms, fund administrators and large family offices use the platform, which covers over $2.5 trillion in assets under client management. Global private market AUM is forecast to reach $26.7tn by 2030, with firms taking on new fund types and emerging technologies that older systems were not designed to support.
Alongside the round, New York-based David T. O'Malley has been appointed Chief Executive Officer and Board Chair, arriving with experience scaling high-growth global SaaS and enterprise fintech businesses. Most recently he served as President of Numerated Growth Technology, leading international expansion, operational and commercial strategy, and ultimately orchestrating its sale to Moody's Analytics. Katharine Briggs joins as Chief Growth Officer, responsible for global go-to-market strategy, delivery and client expansion across the US and EMEA, guiding clients from first sale through implementation and into long-term use of the platform. Founded in 2020, LemonEdge is headquartered in New York and London with teams in Austin, Charlotte, São Paulo, Delhi and Toronto.
Over the next 12 months the funding will go towards bringing on a significant number of new clients and deploying the 2026 and 2027 innovation roadmap.
LemonEdge was built to simplify the complexity of the rapidly scaling private markets space, with global private market AUM forecast to reach $26.7tn 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. 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.
Finance leaders choose accounting platforms that shorten close cycles, reduce audit risk and improve data insights. LemonEdge has built a trusted system of record for private markets, and embedded native AI capabilities to drive modern investor reporting and analytics. We are delighted to continue to support their growth.
Many of the firms we serve have requirements that legacy systems can no longer support, from new fund types to the safe adoption of emerging technologies. Both depend on one system of record where the data is governed, auditable and accurate. LemonEdge is among the platforms purpose-built to address these challenges, and we look forward to collaborating with a team that shares our commitment to solving the complex problems our clients face.
