Startup stakeholder management platform Cake Equity raises $3M seed round

Gold Coast Based Equity Management Platform Cake Shares has raised US$2.2 million ($A3m) in seed funding.

The round was co-led by California investor Jason Calacanis launch and his angel platform, TheSyndicateas well as Australian VC Rampersand† Calacanis is a Cake customers.

Airtasker co-founder Jonathan Lui and Practice Ignition founder Guy Pearson also participated.

Cake plans to use the money for its global expansion plans, with hopes to launch in more than 20 countries in the next 18 months. It recently hit the market in Singapore and is located in Australia, US, UK and India.

The platform simplifies the way startups and scaleups manage employee options, raise capital and manage shareholders. More than 2,000 companies and 50,000 shareholders use the platform, including: Who gives a shit?†

Co-founders Jason Atkins and Kim Hansen launched their startup in 2018.

Atkins sees Cake as a way to help founders and the startup ecosystem.

“We want to be the catalyst for more startups to get funded so they can change the world and make sure their teams share in that success,” he said.†

“This funding round will help us continue to deliver on our vision of creating more shareholders through cap tables that are easy to use everywhere.”

Calacanis said, “We are excited to support the Cake team in building the next generation of stock management tools.”

READ NOW: How to Attract and Build a Great Startup Team Using an Employee Share Plan