Herbert Smith Freehills’ venture capital team has advised NEXL on its Series Seed capital raise. NEXL is an Australian technology company that provides cloud-based software to help law firms expand their referral network and provide global services to clients. The round was led by Australian venture capital firm Investible.
The Herbert Smith Freehills team was led by Head of Venture Capital Peter Dunne, and solicitor Myra Beal.
Peter Dunne said, “It’s fantastic to see great innovation in the legal industry. We have enjoyed working with NEXL founder, Philipp Thurner, and his team, and being part of the company’s journey. NEXL will be a great asset to lawyers looking for cross-border work and collaboration.”
NEXL was founded in 2018 by Philipp Thurner and grew out of a desire to help legal firms collaborate and engage with internal and external stakeholders through smart, innovative, and technology-driven services.
NEXL CEO Philipp Thurner said, “For a first-time founder, it is really scary raising funds. I am extremely thankful for having Peter and the team at HSF on my side who have not only helped on the legal side but have become a trusted advisor to the business and myself. Peter has come up with a creative strategy to fund our early stages and has led us through a successful Seed round. To be honest, I wouldn’t have been able to do it without them.”
This deal is another example of Herbert Smith Freehills’ market-leading work in the Australian technology sector and Australian venture capital. Other recent examples include advising:
- Expert360 on its A$12 million Series C capital raise;
- Culture Amp on its A$120 million Series E capital raise;
- Deputy Group on its A$111 million Series B capital raise;
- Nura Holding on its A$21 million Series A capital raise;
- Ansarada on its A$24 million Series A capital raise; and
- on capital raises for Campaign Monitor, Safety Culture, Tyro Payments, Different, Elanation, Style Arcade, Shore Trade, Social Garden, Cognitive Platforms, Buckitdream, Data Republic, Gilmour Space, Elenium Automation, and others.