Prism Raises $26M in Seed and Series A Funding
Summary
Prism, a Los Angeles, CA-based provider of a lending platform tailored to startup tech companies and employees, raised $26M in Seed and Series A funding. The company intends to use the funds to accelerate growth, expand operations and its business reach. Co-founded by Ari Stiegler, CEO, Noah Friedman, COO, and Ryan Breslow, Prism works directly with pre-IPO companies to allow employees of those startups to borrow against their company equity for personal use – from the down-payment on a home, to paying off personal recourse debt. Loans are secured by the equity that each borrower posts as collateral, and have no personal recourse. The loan marketplace tech platform, which facilitates originations between private shareholders and institutional lenders, is available to late-stage, venture-backed companies that partner with Prism.