Emerging Companies & Venture Capital

Stradley Ronon represented Petabyte Technology Inc., a provider of cloud-based technology solutions to the veterinary sector, in a $43.4 million acquisition by Chewy, Inc., an online provider of pet food and treats, pet supplies, pet medications and other pet-health products and services. The acquisition is expected to further strengthen Chewy’s pet healthcare product and service offerings.

Stradley Ronon represented Crusoe Energy Systems, a Denver, CO-based a company that operates modular data centers that harness otherwise wasted and flared natural gas to power crypto, cloud computing and other data center operations, in connection with its acquisition of Easter-Owens, a manufacturer of modular data centers and specialized electrical systems. The acquisition will allow Crusoe, a pioneer of clean computing infrastructure that reduces both the costs and environmental impact of the world’s expanding digital economy, to manage manufacturing while adding new capabilities for rapid prototyping and data center systems innovation.

Stradley Ronon represented Loris, in connection with a $12M Series A Preferred Stock financing led by Bow Capital, with participation from ServiceNow Ventures and existing investors, Floodgate and Vertex Ventures. Loris brings better conversations to the world by enabling brands to scale human experiences with their customers. Loris is a conversational AI platform that guides customer support agents in real-time during digital conversations (chat, SMS, email, etc.) with empathy techniques and intent-based language suggestions that improve productivity metrics and positive customer outcomes. Loris plans to invest the funds to expand their AI capabilities to generate voice-of-customer insights and further enable non-technical leaders that oversee customer service and support teams to efficiently and effectively scale the ‘human touch’ of their department.

For more information on Loris, and to read about the deal, please visit here and here.

Represented the strategic investment group of a major life insurance company in various venture capital investments in early stage technology companies in the fintech, insurtech and AI space.

Represented the Strategic Investment Group of a regional health insurer in connection with investments in digital health and behavioral health companies and related venture funds, including in connection with sales of portfolio investments.

Represented True Global Ventures 4 Plus (TGV4 Plus) Fund on their US$1.5 million investment into Pinktada, a technology company using NFTs to bring greater flexibility and confidence to travelers and value to hotels. TGV served as the lead investor in the company’s US$2m seed round, which included participation from members of the New York Angels investment consortium and strategic investors from the hospitality and blockchain industries.

Stradley Ronon’s emerging companies & venture capital funds team represented Fora Travel in closing a seed funding round, raising $5 million. Fora is a modern travel agency with a twist – thoughtfully designed, proactively inclusive and tech-driven. The seed round was led by Forerunner Ventures with participation from leading consumer investors, including Heartcore Capital and Uncommon Capital. Fora plans to use the investment to onboard new advisors and enhance product development. 

Stradley Ronon attorneys represented StreamWeaver, a software company offering enterprises end-to-end observability, AI operations and cloud migration, in its sale to BMC, a global leader in software solutions for Autonomous Digital Enterprises. The acquisition enhances BMC’s AIOps strategy, providing expanded data integration capabilities.

Stradley Ronon represented Petabyte Technology, a leading veterinary software company, in a $15 million Series B Funding Round. Petabyte’s software offers veterinary offices a management solution that allows for a greater understanding and control of their business. The investment will allow the company to collaborate with industry partners to develop advanced software solutions to improve technology for veterinary practitioners. The funding includes investments from National Veterinary Associates (NVA) (a global veterinary care leader), UNAVETS (a European-based veterinary group), Norwest Ventures Partners, Halle Capital Management and Relevance Ventures.