Mexico-Based Clara Announces $60M Equity Financing Led by GGV

April 26, 2023Client News

Gunderson Dettmer represented client Clara, a Mexico-based spend management company, in its $60 million equity financing led by GGV Capital.  The new capital will be used to grow Clara’s engineering and product teams, and technology development.

In the announcement of the transaction, Clara’s co-founder and CEO Gerry Giacomán Colyer said, “We’re only 2 years old, so we still see a ton of upside, including companies continuing to come to us every week. Just in March we were meeting all these top line metrics, between 25% and 40%. It was a really outstanding month, and month over month, even in our most conservative scenarios, we see it continuing to grow over 2x through the end of this year.”

The Gunderson Dettmer deal team was led by Dan Green and Brad Krack and included Daniel Gallo, Francisco Z. Mont'Alverne and Yuki Yamakawa, and Lily Kim advised on tax matters.

GGV Capital