Betterfly Becomes Unicorn with $125M Series C Financing
Gunderson Dettmer represented client Betterfly, a Chilean insurtech-tech platform, in its $125 million Series C financing led by Glade Brook Capital. Betterfly’s platform enables employers to incentivize healthy habits for its workers. The new capital brings the company’s valuation to $1 billion and will be used to expand operations in new Latin American markets.
In the announcement of the transaction, co-founder and CEO of Betterfly Eduardo della Maggiora said, “We’re building a product that doesn’t exist anywhere. That’s why we have so much momentum and speed, not just in Latin America but globally.”
The Gunderson deal team was led by Daniel Green and included Bradley Krack, Adam Spaulding, Eduardo Espinosa, Alex Kamath, and Vivian Alexandrescu. Mark Foster and Lily Kim advised on tax-related matters, and Aaron Fiske and Jamilah Mena advised on intellectual property-related matters.