Palo Alto based equity management platform eShares raised a $42m Series C led by Menlo Ventures and Social Capital
Murphy said he invested in eShares because of its “vision about building the ownership graph, which makes it easier to track, value, understand, and ultimately trade/monetize ownership.” eShares has a subscription business model for its equity management software and works with 6,000 companies on corporate governance and compliance. It can also issue stock to investors electronically. And now eShares is hoping to work with companies on the IPO process. CEO Henry Ward told TechCrunch that “our job is to blur the lines of being public and private to make them almost indistinguishable.” He hopes that eShares can eventually serve as a replacement for the underwriting bankers.