Welcome to another edition of our monthly newsletter. Our team remains extremely busy and continues to grow! Similarly, the tech world is consistently evolving and changing, to which we’re honored to support our clients on emerging issues and share our insights with you. This edition highlights our team’s work in a variety of industries, including startup financing, NFTs, and data security.
Foley Advises New Enterprise Associates as Lead Investors in $45M Series B Funding Round of Embrace Mobile
Foley & Lardner LLP represented New Enterprise Associates (NEA), a global venture capital firm, as lead investors in the $45 million Series B funding round of Embrace Mobile, Inc., a mobile data performance management platform. The round was led by NEA, with participation from existing investors Greycroft, AV8, and Eniac, and founders from PagerDuty, Sendbird, LogDNA, Scopely, and TestFlight.
Embrace plans to use the investment proceeds to launch its next platform product, Data Intelligence, which enables companies to make 100% of their mobile data accessible and actionable by their business intelligence and data science teams. With full visibility into all of their mobile user experience data, a company’s engineering, product, and marketing teams can make informed, truly data-driven decisions around their marketing campaigns and product features to drive business value across retention, revenue, and adoption.
Foley served as lead counsel to NEA and negotiated the transaction. The team was led by Partner Louis Lehot and Associate Saige Gallop.
Foley & Lardner Supports Home of Hope’s Mission to Provide Opportunities and Empowerment to Disadvantaged Youth
Partner Louis Lehot Joins Home of Hope’s Advisory Board.
Foley & Lardner LLP recently sponsored the Home of Hope Annual Gala that took place on October 9, 2021. In addition to supporting Home of Hope’s fundraising efforts, the firm provides pro bono counsel to the organization. Additionally, Louis Lehot, a partner in Foley’s Silicon Valley office, recently joined Home of Hope’s advisory board.
Home of Hope has brought tremendous change to the quality of life in over 100,000 of India’s youth, with a mission to provide support and educational opportunities to empower disadvantaged and underprivileged youth to become self-sustaining adults of tomorrow. The organization funds necessary resources and access to education, mental health, computer skills, vocational training, and sports programs. These opportunities make a significant difference in uplifting the lives of mentally and physically handicapped, orphaned, and abandoned children, making them self-sustaining members of society.
“Home of Hope’s programs are uplifting disenfranchised populations in meaningful ways. By supporting the organization’s mission and programs, the business, technology and entrepreneur community of the San Francisco Bay Area is having an undiluted and direct impact,” said Lehot. “Foley is proud to be a part of this organization that is changing the lives of so many young individuals.”
More information on Home of Hope can be found here.
Natasha Allen Featured in BIV Today Podcast on Canadian Startups Seeking US Investors
Foley Partner Natasha Allen was featured on the BIV Today: The Business Podcast for British Columbia episode titled, “Startups Seeking Investors South of The Borders.” Allen discusses how Canadian startups are increasingly looking to the U.S. for angel investors and venture capital funding, as well as attractive exit deals.
Foley & Lardner Represents Brazilian Startup Gringo in $8M Series A Financing
Foley & Lardner represented Brazilian startup Gringo in its $8 million Series A financing. The latest funding round was led by Kaszek, with participation from GFC and OneVC, and brings Gringo’s total investment to $10 million since its inception in 2019.
Gringo built an app aimed at supporting drivers in a variety of ways, such as helping drivers monitor and perform services related to their documents and vehicles. Gringo’s 2.5 million users can utilize the app to monitor, manage, and pay for documentation, such as their driver licenses and vehicle registration. They can also pay taxes and fines through the app.
Gringo will use its new capital mainly to expand into new services for drivers, toward hiring, and continuing their expansion within Brazil, and eventually into Latin America. According to founder and CEO Rodrigo Colmonero, the company is reinvesting all its profits in “growth into Brazil and later in Latin America.”
The Foley deal team was led by Partner André Thiollier and included Associate Courtney King with assistance from Nick Fletcher and Savannah Hatcher.
Catherine Zhu Featured in Financial Fox Video on Creating and Buying NFTs
Foley Special Counsel Catherine Zhu was recently featured in a Financial Fox video, taking a deep dive into the legal issues to consider when creating and buying NFTs.
TechCrunch Survey on Best Startup Lawyer
As part of an ongoing TechCrunch search to identify the best startup lawyers in the country, we would be grateful if you could review and complete this very short survey. TechCrunch is especially interested in your experiences with your lawyer in the very early stages of building your company.
Additional Articles of Interest
- KeyBanc Saas Survey Results 2021
- Navigating the Legal Cloud: How to Manage Data and Intellectual Property with Cloud Orchestration Platforms
- Flipping Your Business into the United States: Meet the Delaware C Corporation
- Accessing Cash South of the Border: Canadian Startups Increasingly Looking to Access U.S. Investors
- Considerations When Allocating Stock to Founders
- A Startup Company’s Guide to Avoiding Common Legal Mistakes
- Latin America: Today’s Next Investment Frontier
- 5 Legal and Privacy Hacks to Supercharge Product-Led Growth