The fund accounting platform also named David T. O'Malley CEO and Board Chair as it targets faster product development and expansion across the US and Europe.
LemonEdge said it completed a $21 million Series A round led by Blackstone Innovations Investments, with BNY and existing investor Sidekick Partners participating, lifting total funding to more than $30 million. The company said it will use the capital to accelerate product development and expand further in the US and Europe. The private markets fund accounting platform also reshaped its leadership team, appointing New York-based David T. O'Malley as Chief Executive Officer and Board Chair and naming Katharine Briggs as Chief Growth Officer. LemonEdge said O'Malley most recently served as President of Numerated Growth Technology, where he led international expansion and strategy before its sale to Moody's Analytics, while Briggs will oversee global go-to-market strategy, delivery and client expansion across the US and EMEA (Europe, Middle East and Africa). The company framed the raise around growing demand from private markets firms that it says have outgrown legacy systems. In comments included in the announcement, executives highlighted demand for a system of record (single authoritative data platform), auditable workflows and native AI capabilities for investor reporting and analytics. LemonEdge, founded in 2020, said it serves private equity, fund administrators and large family offices with more than $2.5 trillion in assets under client management.