The Long Term Stock Exchange (LTSE) is an exchange created by CEO Eric Ries that aims to promote long-term-oriented public companies. LTSE emphasizes five principles focused on longer time horizons, aligning executive compensation and director oversight with long-term performance, engaging long-term shareholders, and measuring success in years and decades. The exchange was approved by the SEC in 2019 and opened for trading in 2020. LTSE has struggled to attract listings, with the first two firms listing being Asana and Twilio. To encourage listings it promotes a “Very Simple Market” and bills itself as the only exchange with a “free model.” The company recently secured capital from members of the Walton family and a venture fund to support its growth. LTSE is a stock exchange and related software business that aims to incentivize long-term ownership by granting shareholders more voting power the longer they hold shares and by requiring companies to make expanded public disclosures such as product roadmaps. Prior to launching the exchange, LTSE released startup-facing tools including capitalization-table management and cash-planning utilities. The SEC approved LTSE’s application to become an exchange on May 10, and the company is now entering the development and implementation phase for the open market. Regulatory filings show two affiliated entities—LTSE Services, Inc. and LTSE Group, Inc.—raised approximately $50 million in new funding to support that phase. LTSE Services reported $49,738,849 from 65 investors and LTSE Group sold $261,149 in equity to the same 65 investors; LTSE Services also operates a software business serving approximately 20,000 users, mostly early-stage companies. The company previously raised about $18.7 million in a July 2016 Series A (participants included Floodgate and Lowercase Capital), and a February 2019 filing listed founder and investor stakes, implying the new round likely diluted prior holdings.

Total raised

$150M

Funding rounds

2

Latest round

Equity

Latest activity

Jun 2022