LemonEdge, a fund accounting platform built for private markets, has completed a $21 million Series A investment round. Blackstone Innovations Investments led the round. BNY joined, along with participation from existing investor Sidekick Partners, bringing LemonEdge’s total funding to more than $30 million.
The company has appointed David T. O’Malley as Chief Executive Officer and Board Chair. O’Malley most recently served as President of Numerated Growth Technology, where he led its sale to Moody’s Analytics. LemonEdge has also appointed Katharine Briggs as Chief Growth Officer to lead global go-to-market strategy.
LemonEdge was founded in 2020 and is backed by Blackstone. The company serves private equity firms, fund administrators, and large family offices, with more than $2.5 trillion in assets under client management. LemonEdge is headquartered in New York and London, with teams in Austin, Charlotte, São Paulo, Delhi, and Toronto.
KEY QUOTES:
“LemonEdge was built to simplify the complexity of the rapidly scaling private markets space, with global private market AUM forecast to reach $26.7 trillion 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.”
David T. O’Malley, CEO, LemonEdge
“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.”
Stevi Petrelli, Senior Managing Director, Head of Blackstone Innovations Investments
“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.”
Christine Waldron, Global Head of Fund & Investor Solutions, Asset Servicing, BNY
