Herbert Smith Freehills’ Private Equity and Venture Capital team has advised Upollo on its A$4.15 million early seed capital raise. 

The round was led by Index Ventures and other venture capital firms, as well as a range of angels with backgrounds at Stripe, Notion, Cohere, Google and Canva.

This new capital will be employed to fund the continued rapid growth and expansion of the company.

Upollo is an Australian company that assists subscription businesses with customer acquisitions and retention by providing key insights by utilising innovative technology.

The Herbert Smith Freehills team was led by Co-Head of Venture Capital Claire Thompson and solicitor Adam Ong.

Adam Ong said, “Cayden and his team have had incredible careers across some of the world’s largest technology companies and it was wonderful that they trusted us with their capital raise. We are excited to see Upollo continue to grow as it builds truly incredible products that address the key needs of all subscription-based businesses.”

Cayden Meyer, Upollo’s CEO and founder, said, "I'm excited that thanks to a new round of funding, we are accelerating our mission to bring businesses around the world more happy, paying customers by converting trial hoppers, account sharers, and more. A huge thanks to the team at HSF who through their guidance, advice and efforts made a round involving investors from across the globe a great success, and set us up well as we grow in the future".

This deal is another example of Herbert Smith Freehills’ market-leading work in Australian venture capital raisings. Other recent examples include:

• CryptoTaxCalculator on its $4m Series Seed capital raise
• Mr Yum on its A$89 million Series A capital raise
• Linktree on its US$110 million capital raise in 2022 at a valuation of US$1.3 billion
• SafetyCulture on its A$60.5 million Series C1 and A$99 million Series C2 capital raises
• Dovetail Research on its US$63 Million Series A capital raise
• Sonder on its A$35 million Series B capital raise