LemonEdge announces $21M Series A funding round led by Blackstone Innovations Investments and joined by BNY, to modernize private markets infrastructure

Rhea-AI Summary

LemonEdge, a modern fund accounting platform for private markets, completed a $21 million Series A round to accelerate product development and expansion in the US and Europe. The round was led by Blackstone Innovations Investments and joined by BNY (NYSE: BNY) and Sidekick Partners, bringing total funding to $30+ million.

LemonEdge appointed David T. O'Malley as Chief Executive Officer and Board Chair and Katharine Briggs as Chief Growth Officer to support its next growth phase. The company plans to use the funding to win new clients and execute its 2026–2027 innovation roadmap for private markets infrastructure.

Positive

• $21 million Series A funding completed, total financing now $30+ million
• New leadership: David T. O'Malley appointed CEO and Board Chair
• Katharine Briggs appointed Chief Growth Officer to drive global go-to-market
• Backed by Blackstone Innovations Investments, BNY and Sidekick Partners

Negative

• None.

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NEW YORK, July 29, 2026 /PRNewswire/ -- LemonEdge, a modern fund accounting platform built for private markets, has completed a $21 million Series A investment round to accelerate product development and continued expansion in the US and Europe.

Blackstone Innovations Investments, Blackstone's early-stage investment arm, led the funding round. They're joined by BNY (NYSE: BNY), a global financial services company, with participation from long-time investor, Sidekick Partners, bringing LemonEdge's total funding raised to date to $30+ million.

As LemonEdge enters its next phase of growth, it has significantly strengthened its senior leadership team by appointing New York-based David T. O'Malley as Chief Executive Officer and Board Chair. O'Malley brings extensive experience scaling high-growth global software-as-a-service (SaaS) and enterprise fintech businesses. Most recently, he served as President of Numerated Growth Technology, leading international expansion, operational and commercial strategy and ultimately orchestrating its successful sale to Moody's Analytics.

LemonEdge has also appointed Katharine Briggs as Chief Growth Officer, responsible for driving global go-to-market strategy, delivery, and client expansion as demand accelerates across the US and EMEA. Briggs brings deep experience at high-growth software businesses, translating product innovations into measurable client outcomes. Her teams will guide clients from first sale through implementation and into long-term success, ensuring every client realizes increasing value from the platform.

David T. O'Malley, CEO of LemonEdge said: "LemonEdge was built to simplify the complexity of the rapidly scaling private markets space, with global private market AUM forecast to reach $26.7tn 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."

Stevi Petrelli, Senior Managing Director, Head of Blackstone Innovations Investments, said: "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."

Christine Waldron, Global Head of Fund & Investor Solutions, Asset Servicing at BNY, said: "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."

About LemonEdge

LemonEdge is the fund accounting and operations system built for the complexity private markets carry today. Where legacy systems left the hardest processes offline, LemonEdge brings them onto the system in true real time: automated, auditable and governed inside a single system of record that is building toward full operational intelligence across the fund lifecycle.

Founded in 2020 and backed by Blackstone, LemonEdge serves private equity, fund administrators and large family offices, with over $2.5 trillion in assets under client management. Headquartered in New York and London, with teams in Austin, Charlotte, São Paulo, Delhi & Toronto. For more information, please visit www.lemonedge.com

About Blackstone

Blackstone is the world's largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone's over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com.

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SOURCE LemonEdge

FAQ

What is LemonEdge's new Series A funding round involving BNY (NYSE: BNY)?

LemonEdge completed a $21 million Series A round led by Blackstone Innovations Investments, with participation from BNY and Sidekick Partners. According to LemonEdge, this brings its total funding to $30+ million to support product development and geographic expansion.

How will LemonEdge use the $21 million Series A funding announced in July 2026?

LemonEdge plans to use the $21 million to accelerate product development and expand in the US and Europe. According to LemonEdge, the capital will also support acquiring new clients and delivering its 2026–2027 innovation roadmap for private markets infrastructure.

What leadership changes did LemonEdge announce alongside the $21 million funding round?

LemonEdge appointed David T. O'Malley as Chief Executive Officer and Board Chair and Katharine Briggs as Chief Growth Officer. According to LemonEdge, these executives will lead global growth, go-to-market strategy, client delivery and long-term customer success in private markets.

Why are Blackstone and BNY investing in LemonEdge's private markets platform?

Blackstone and BNY are investing because LemonEdge offers a modern system of record for private markets with native AI capabilities. According to Blackstone and BNY, the platform helps address limitations of legacy systems, supporting governance, auditability and complex fund structures for sophisticated firms.

How does LemonEdge aim to modernize private markets infrastructure by 2027?

LemonEdge aims to simplify complex private markets accounting and investor reporting using a modern platform with embedded AI. According to LemonEdge, the new funding will help rapidly deploy its 2026 and 2027 innovation roadmap and support a significant increase in client adoption globally.