Startup profile · funding coverage
LTSE funding, valuation and investors
SEC-registered stock exchange and software for long-term company governance.
Keep track of LTSE
Save this profile to your VCT watchlist for a quick return.
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.
-
NYSE / Nasdaq incumbent
Dominant US exchanges with vastly higher liquidity and listing counts vs LTSE's niche volume.
-
Carta adjacent
Cap-table software competitor to LTSE Equity for private companies.
-
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
Market / IPO context
Editorial / static context — not a live quote.
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.
Last updated:
Editorial note: AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.