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LTSE funding, valuation and investors
SEC-registered stock exchange and software for long-term company governance.
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Funding, valuation & investors
Answer-first snapshotLatest funding
Series B
$50M · August 2019
Latest known valuation
Not publicly disclosed
Total disclosed equity funding
$50M
Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.
Current status
private
growth · San Francisco, California
Investors in latest funding
Lead: Founders Fund
Other: Andreessen Horowitz , Initialized Capital , Greylock Partners
Overview
The Long-Term Stock Exchange (LTSE) is a SEC-registered national securities exchange and software company founded by Eric Ries, author of The Lean Startup. LTSE promotes long-term governance through listing standards, software tools for cap-table and stakeholder management, and the LTSE Exchange designed for companies prioritizing sustainable growth over short-term earnings pressure. LTSE raised a $50M Series B in August 2019 led by Founders Fund with Andreessen Horowitz, Initialized Capital, and Greylock Partners re-upping.
Why LTSE is interesting
LTSE, founded by Lean Startup author Eric Ries, aims to reduce short-term quarterly pressure on public companies — a16z backed alongside Founders Fund as LTSE won SEC approval and built the Long-Term Stock Exchange.
Product & use cases
LTSE offers exchange listing services, LTSE Equity (cap-table and stakeholder software), and governance frameworks encouraging long-term metrics. Companies use LTSE tools pre-IPO and may list on the LTSE Exchange.
- Private companies managing cap tables and stakeholder communications with LTSE Equity
- Growth companies seeking exchange listing aligned with long-term governance principles
- Investors tracking companies committed to extended time horizons via LTSE listing standards
Key facts
- Series B (Aug 2019): $50M led by Founders Fund; a16z, Initialized, Greylock participated (Axios)
- SEC-approved national securities exchange
- Founded by Eric Ries (The Lean Startup)
- LTSE Equity software for cap-table and stakeholder management
Funding history (newest first)
Investors in our directory
Funds linked from LTSE's profile — open a fund page for stage focus and related deal articles.
Competitive landscape
Edge: LTSE is the only exchange explicitly branded around long-termism — Eric Ries's brand and SEC registration give legitimacy niche NYSE/Nasdaq cannot replicate on messaging alone.
New exchanges struggle for liquidity — LTSE's software business may outlast exchange volume ambitions. Success is measured in listed companies adopting long-term standards, not matching Nasdaq turnover.
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NYSE / Nasdaq incumbent
Dominant US exchanges with vastly higher liquidity and listing counts vs LTSE's niche volume.
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Carta adjacent
Cap-table software competitor to LTSE Equity for private companies.
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IEX adjacent
Alternative exchange with investor-protection positioning; different long-term governance thesis.
Notable stories
- Eric Ries spent years navigating SEC approval for a new exchange — rare regulatory achievement for a startup challenging NYSE/Nasdaq duopoly.
- LTSE listing standards include long-term stakeholder policies — attempting to encode 'long-termism' into market structure, not just corporate PR.
Industries
Related funding articles
Venture Capital Tracker pieces that cover LTSE's financing or category context.
FAQs about LTSE
Practical answers founders, operators, and investors typically search for.
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