Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP has elected 15 new partners, effective January 1, 2022, in its largest new partner class to date. In a year of unprecedented growth to more than 400 attorneys in 10 offices, these elevations add to the firm’s corporate and securities, fund formation, growth equity, public offerings/public companies, data privacy, technology transactions and tax practices.
Gunderson Dettmer is again ranked for the third quarter in a row the “most active law firm globally” in Pitchbook’s Global Venture Capital League Tables. Q3 2021 data confirms 450 global financings with late-stage financings valued at $40 billion and early-stage financings valued at $7 billion, equating to a total of $47 billion financed worldwide.
Gunderson Dettmer continues to earn top rankings as the #1 VC Law Firm Globally in PitchBook’s Global Venture Capital League Tables. In addition, the PitchBook database confirms that Gunderson Dettmer handled more venture and growth equity transactions in India and Southeast Asia for Q3 2021 than any other law firm in the world.
Gunderson Dettmer hosted a 90-minute panel on the state of cross-border investments and how to navigate changing regulations, local governance, and new terms and protections for both founders and investors.
Gunderson Dettmer represented client Greenoaks as it led the $32 million Series B financing of flex, a South Korea-based human resources management platform. The new capital will enable flex to scale its operations, advance its HR automation and SaaS products and increase its headcount.
UPDATE: On January 13, 2022, the U.S. Supreme Court found that the Federal OSHA’s COVID vaccine ETS, targeting nearly all large U.S. employers and imposing significant penalties on noncompliant employees and employers, is a “broad public health measure” outside of OSHA’s purview.
This is an update to our October 1, 2021 Preparing for a Return to the Workplace, Employers Are Making Big Decisions (UPDATED) article.
Gunderson Dettmer represented client SaaS Labs, an India-based business automation platform, in its $42 million Series B financing led by Sequoia Capital India.
Gunderson Dettmer is pleased to announce that Emily E. Cabrera has joined the firm as an Executive Compensation Partner in its New York office. She joins the firm from Hunton Andrews Kurth, where she was a Partner.
Gunderson Dettmer represented client Chatdesk, a customer support messaging platform, in its $7 million Series A financing led by Cultivation Capital. In addition to Cultivation Capital, Harlem Capital, Serena Ventures, Menlo Ventures, Stormbreaker Ventures, and Fika Ventures also participated in the round.
Gunderson Dettmer represented client Clari, a revenue operations platform, in its $225 million Series F financing led by Blackstone. Additional investors included new investors Light Street Capital, Maverick Capital, and existing investors B Capital Group, Bain Capital Ventures, Madrona Ventures, Northgate Capital, Sapphire Ventures, Sequoia Capital, Sequoia Capital Global Equities, and Tenaya Capital.
Gunderson Dettmer represented clients Dragoneer and Coatue Management as investors in the $235 million Series G financing of Lyra, a provider of innovative Workforce Mental Health solutions for employers.
Gunderson Dettmer represented client Cart.com, an end-to-end eCommerce software and service provider, in its acquisition of SellerActive, a provider of SaaS multichannel eCommerce tools.
Gunderson Dettmer represented client Evocalize, a real-time automated contextual marketing platform, in its $12 million Series A financing led by Move, Inc.
Valued Clients:
We are writing to our venture capital and private equity fund clients to remind you of several important deadlines that are approaching. The annual deadline for filing certain initial Schedules 13G, an amendment to a previously filed Schedule 13G, an initial Form 13F filing, and an annual update to a previously filed Form 13H with the Securities and Exchange Commission (the “SEC”) for the year ended December 31, 2021 is Monday, February 14th. As you may remember from prior years, all Schedule 13G and Form 13F filings, including amendments, and Form 13H filings, including annual updates, must be filed electronically through EDGAR. As a result, we will be working with a financial printer in connection with these Section 13 filings. We are also using this opportunity to remind you that if you are subject to the California Consumer Privacy Act (“CCPA”), which went into effect on January 1, 2020, you are required to review and update your firm privacy policies and provide an annual privacy notice to your employees, contractors and investors that are California resident natural persons. Finally, we would like to give our clients who have previously filed a Form ADV with the SEC a reminder that generally your firm will be required to file an annual updating amendment to such Form ADV by the deadline of Thursday, March 31, 2022.
Gunderson Dettmer represented client Movile as it led the $17 million Series B financing of a55, a developer of a financial underwriting platform.
Gunderson Dettmer represented client Greenoaks as it co-led the $12.5 million Series A financing of Turnip, an India-based mobile-first gaming community platform.
Gunderson Dettmer represented client UBITS, a Colombia-based B2B online learning platform, in its $25 million Series B financing led by Riverwood Capital.
Gunderson Dettmer represented client Kleiner Perkins in the formation of KP 20, an $800 million fund to back early-stage companies, and KP Select II, a $1 billion fund to back high inflection investments.
Gunderson Dettmer represented client Cart.com, an end-to-end eCommerce software and services provider, in its acquisition of FB Flurry, a customer care and fulfillment operator.
Gunderson Dettmer represented client HotSpot Therapeutics Inc.,a biotechnology company, in a strategic collaboration agreement with Caris Life Sciences®, a molecular science and technology company.
Employers must file information returns with the Internal Revenue Service and provide employees with information statements related to incentive stock option exercises that occurred during calendar year 2021. Similarly, employers (typically relevant only for public companies) must file information returns with the IRS and provide employees with information statements related to initial transfers of stock acquired during 2021 under an employee stock purchase plan that complies with Internal Revenue Code Section 423.
Gunderson Dettmer represented client Alumis, formerly known as Esker Therapeutics, a precision immunology company, which is backed and incubated by Foresite Labs, in its $200 million Series B financing led by AyurMaya, an affiliate of Matrix Capital Management.
Gunderson Dettmer represented client Greenoaks Capital as it led the $210 million Series F financing of Zetwerk, an India-based B2B manufacturing startup.
Gunderson Dettmer is representing client The Athletic, a digital subscription-based sports media company, in its acquisition by The New York Times Company.
On December 15, 2021, the Securities and Exchange Commission (“SEC” or “Commission”) voted to adopt two sets of rule proposals designed to address the agency’s stated concerns about the prevalence of certain trading practices by issuers and corporate insiders that the SEC believes may harm investors and undermine the integrity of the securities markets, including through the misuse of material nonpublic information (“MNPI”).
Gunderson Dettmer represented client Whyline, a leading provider of virtual queuing and appointment technology, in its acquisition by CLEAR, a secure identity company.
Gunderson Dettmer represented client Payix, an omnichannel payment technology platform, in its $115 million acquisition by REPAY, an integrated payment technology platform.
Gunderson Dettmer represented client Neoway, a big data and analytics platform, in its acquisition by B3, the Brazilian stock exchange.
Gunderson Dettmer’s Singapore office continues to be ranked Band 1 by Chambers and Partners in its 2022 Asia-Pacific guide for its Startups & Emerging Companies practice.
Gunderson Dettmer represented client Tiger Global as it led the $250 million Series E financing of Deliverr, an e-commerce and fulfillment technology platform.
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