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Herbert Smith Freehills has advised Culture Amp on its USD$35 million Series D capital raise - one of the largest raisings undertaken for an Australian company this year. Culture Amp will employ this capital to fund its continued rapid growth as well as potential future expansions.

The round was led by Blackbird Ventures with co-investors including Hostplus and follow-on investors including Index Ventures and California-based funds Sapphire Ventures and Felicis Ventures.

Culture Amp is a ‘culture-first’ software company that provides a staff survey tool and analytics platform for clients such as Airbnb, Disney, Nike and McDonalds. The software allows employers to gather information on the satisfaction and motivations of their employees through customised surveys with a view to promoting a positive workplace culture.

Herbert Smith Freehills has advised Culture Amp on all of its capital raises which now total A$95.5 million. This latest raising reflects the changing perception of the significance of workplace culture across all sectors.

The Herbert Smith Freehills team was led by partner Peter Dunne who was supported by solicitor Ben Waterfall and graduate Thomas Gooch.

Peter Dunne said, “We are delighted to continue acting for Culture Amp as they solidify their position as one of Australia’s leading tech start-ups. This raise underscores the market’s sustained interest in established Australian start-ups with a strong growth trajectory and dynamic leadership.”

Culture Amp Head of Legal, Quentin Wallace said, “It was great to have Peter and Ben at our side for another fundraise. As with previous rounds, it was reassuring to know that the HSF team would be there to provide excellent advice and service when we needed it.”

This deal is another example of Herbert Smith Freehills’ market-leading work in the Australian technology sector. Other recent examples including advising:

  • Ansarada on its Series A capital raise;
  • Deputy on its Series A capital raise;
  • SafetyCulture on its Series B capital raise;
  • Expert360 on its Series B capital raise;
  • Nura, Different, Elanation and INAMO on their seed round capital raises;
  • KTM Ventures on its investment in cryptocurrency exchange, Independent Reserve; and
  • the founders of PageUp People on the sale of the business to global investment firm, Battery Ventures.

About Herbert Smith Freehills

Operating from 27 offices across Asia Pacific, EMEA and North America, Herbert Smith Freehills is at the heart of the new global business landscape providing premium quality, full-service legal advice. The firm provides many of the world’s most important organisations with access to market-leading dispute resolution, projects and transactional legal advice, combined with expertise in a number of global industry sectors, including Banks, Consumer products, Energy, Financial buyers, Infrastructure & Transport, Mining, Pharmaceuticals & Healthcare, Real estate, TMT and Manufacturing & Industrials.

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