The funds will enable the company to expand its offerings in the healthcare markets of AU and NZ
Herbert Smith Freehills (HSF) has helped workplace wellness technology start-up Sonder to successfully raise $35m −an investment that will enable the company to accelerate its business growth and expansion.
Venture capital firm Blackbird Ventures led the Series B round, with participation from investors SEEK Investments, MA Growth Ventures and SecondQuarter Ventures.
“The completion of our $35m Series B round is another important milestone on our journey to unlock the Sonder wellbeing model for millions of people around the world,” Sonder co-founder and CEO Craig Cowdrey. “This capital and the expertise of our new investors will turbocharge our mission to reduce the complexity of the healthcare landscape, allowing organisations to support their people to take control of their safety and wellbeing journey.”
Sonder will use the funds to invest in product improvements across its safety, medical, and mental health platform and continue to grow its client base throughout medium and large enterprises in Australia and New Zealand. The company will also apply the capital towards pursuing growth opportunities within small- and medium-sized businesses and within international markets.
Australian co-head of venture capital Elizabeth Henderson helmed the HSF venture capital team on the transaction alongside solicitor Vincent Greco Schwartz. They were assisted by lawyers from across the Sydney and Melbourne offices, including partner Clayton James, solicitors Roy Carbone and Katherine Duong, and graduate Penelope Han.
Also included in the team were partners Toby Eggleston and Fiona Smedley, senior associate Naison Seery, and paralegal Zoe Feldman.
HSF’s alternative legal services practice assisted in finalising the deal.