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Herbert Smith Freehills has advised Hapana on its A$17 million funding round led by OIF Ventures with participation from Bailador Technology Investments.
Hapana is an Australian company that provides a next-generation fitness and wellness studio management SaaS platform that enables gym owners and managers to streamline their operations, increase member retention, and grow their revenue through data-driven insights and automation.
The investment will enable Hapana to expand its global presence and deliver its second-generation platform, which will include new features such as AI-powered customer insights, dynamic pricing, and loyalty programs.
The Herbert Smith Freehills team was led by partner Elizabeth Henderson and senior associate Roy Carbone. They were supported by partner Toby Eggleston and solicitors Coco Peralta and Celine Nalbandian, as well as senior associate Wendy Tian, working across the firm’s Sydney, Melbourne and Brisbane offices.
Elizabeth Henderson, partner and Co-Head of Venture Capital (Australia) at Herbert Smith Freehills, said, “We are delighted to have supported Hapana on this milestone transaction, which reflects the strong demand for innovative and scalable SaaS solutions. Hapana has a compelling vision and a world-class product that is transforming the way that fitness businesses operate and engage with their members. We look forward to seeing Hapana continue to grow and succeed in the Australian and international markets”.
Hapana CEO and Founder Jarron Aizen said, “The team at Herbert Smith Freehills played a pivotal role in ensuring the success of this funding round, providing the expertise and clarity needed to navigate the process smoothly. Thanks to their support, alongside the investment from OIF Ventures and Bailador Technology Investments, Hapana is ready to accelerate its global expansion and deliver unparalleled solutions to our clients”.
This deal is another example of Herbert Smith Freehills’ market-leading work in Australian venture capital raisings in the emerging tech sector. Other examples include:
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