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November 21, 2022Client News
HC9 Ventures Announces New $83M Fund

HC9 Ventures announces the launch of its $83 million new fund to invest in early-stage healthcare startups that will shape the future of healthcare. 

November 9, 2022Client News
Sequoia Capital India Participates in $90M Series A Financing of Arta Finance

Gunderson Dettmer represented client Sequoia Capital India as an investor in the $90 million Series A financing of Arta Finance, a California-based digital family office. Other notable investors included Ribbit Capital, Coatue, and over 140 tech and finance entrepreneurs, such as Betsy Cohen, Eric Schmidt and Ram Shriram.

November 2, 2022Client News
Carta Healthcare Announces $20M Series B Financing

Carta Healthcare, a clinical data management company, announces its $20 million Series B financing from investors including Paramark Ventures, Frist Cressey Ventures, Mass General Brigham, and American College of Cardiology.

November 2, 2022Client News
Travtus Announces $4M Seed Financing

Gunderson Dettmer represented London-based client Travtus, an AI technology company focused on streamlining multifamily operations, in its $4 million seed financing led by RET Ventures.

October 18, 2022Insights
California’s New Pay Transparency Law Requires Employers to Include Pay Scale Information in Job Postings and Disclose Significant Salary and Demographic Information, starting January 1, 2023

On September 27, 2022, California joined several other states, cities, and local governments that require increased pay transparency in the workplace. Under the new law (Senate Bill 1162) which takes effect on January 1, 2023, companies with any California-based employees (“California employers”) must share salary range information with current and prospective employees, include salary information in job postings, and maintain significant records and data relating to workforce demographics and salaries.

October 17, 2022Insights
Preparing for the SEC’s New ‘Pay-Versus-Performance’ Proxy Disclosure Rules

The U.S. Securities and Exchange Commission (SEC) recently adopted final rules that require public companies to disclose, in both tabular and narrative format, information about the relationship between the compensation they pay executives and their financial performance for up to five fiscal years in proxy or information statements in which executive compensation disclosures are required. More than a decade in the making, the new rules implement the so-called pay-versus-performance disclosure requirements mandated by the Dodd-Frank Act in the aftermath of the 2008 financial crisis.

October 14, 2022Client News
Ayoconnect Announces $13M Series B Extension

Gunderson Dettmer represented client Ayoconnect, Indonesia’s first licensed open finance platform, in its $13 million Series B extension led by SIG Venture Capital with participation by CE Innovation and PayU, the payments and fintech business of Prosus. This round came nine months after Ayoconnect raised $15 million in an oversubscribed Series B round led by Tiger Global.

October 12, 2022Insights
Biden Signs Executive Order in Latest Step toward Privacy Shield Successor

On October 7, 2022, President Biden signed a highly-anticipated Executive Order implementing commitments the U.S. made under the new European Union-U.S. Data Privacy Framework (the “Framework”) announced earlier this year. The Framework is viewed as a successor to the European Union-U.S. Privacy Shield Framework (“Privacy Shield”), which was invalidated by the European Court of Justice in 2020. If ratified by the appropriate European Union (“EU”) entities, the Framework would provide qualifying companies with a legal basis to transfer personal data from the EU to the U.S. The Executive Order lays the groundwork for the European Commission (“EC”) to provide an adequacy determination for the Framework, which is expected to occur in 2023.

October 6, 2022Insights
Former Uber Executive Convicted of Criminal Charges for Mishandling of 2016 Data Breach

On October 5, Uber's former Chief Security Officer (“CSO”) was convicted of criminal felony charges for obstruction of justice and misprision (i.e. concealing) of a felony relating to his handling of a 2016 data breach that exposed the personal data of millions of Uber drivers and users. This case marks the first time a company executive has been held criminally liable for handling of a data breach in the United States and the CSO could face up to eight years in prison. In a press release announcing the verdict, the Department of Justice warned that the FBI and its government partners “will not allow rogue technology company executives to put American consumers’ personal information at risk for their own gain.”