Herbert Smith Freehills advises Persuit on US$20 million Series A capital raising led by OpenView

Herbert Smith Freehills’ private equity and venture capital team has advised Persuit on its US20 million Series A capital raise.

The round was led by OpenView Venture Partners.

This new capital will be employed to fund the continued rapid growth and expansion of the company.

Persuit is an Australian company software as a service platform that provides a private marketplace for corporate legal services.   

The Herbert Smith Freehills team was led by partner and Head of Venture Capital Peter Dunne, Co-Head of Venture Capital (Australia) Elizabeth Henderson, and solicitors Katherine Duong, Roy Carbone and Taseen Rafi working across the firm’s Sydney and Melbourne offices and working with associated tax practice Greenwoods and Herbert Smith Freehills led by partner, Toby Eggleston.

Peter Dunne said, “We were pleased to work with the Persuit team on this important capital raise that will enable the company to continue building its business and expand its offering. This transaction is testament to the success of this Australian company on the world stage.”

This deal is another example of Herbert Smith Freehills’ market-leading work in Australian venture capital raisings. Other recent examples include:

• Culture Amp on A$135 million Series F capital raise and secondary sale
• SafetyCulture on its A$99 million Series C2 capital raise and secondary sale
• Deputy Group on its A$111 million Series B capital raise
• Who Gives A Crap on its A$41.5 Million Series A capital raise
• Linktree on its US $10.7 million Series A and US$45 million Series B capital raises
• Grok Ventures on its investment in Brighte’s A$100 million Series C capital raise