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Linktree completes $10.7m Series A raise
Herbert Smith Freehills has advised Linktree on its US$10.7 million Series A capital raise.
Tony Zhang
Firms: Herbert Smith Freehills (Linktree).
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Deal: Herbert Smith Freehills’ private equity and venture capital team has advised Linktree on its US$10.7 million Series A capital raise.
The round was led by US private equity and venture capital firm Insight Partners and Australian venture capital firm AirTree Ventures.
Value: US$10.7 million.
Area: Venture capital.
Key players: The Herbert Smith Freehills team was led by partner and head of venture capital Peter Dunne, consultant Elizabeth Henderson, senior associate Rob Prosser and solicitor Sian Lacy working across the firm’s Sydney and Melbourne offices.
Deal significance: Linktree, a tech platform that can connect a user’s followers to her entire online ecosystem, has raised US$10.7 million in Series A funding round led by Insight Partners and AirTree Ventures.
This new capital will be employed to fund the continued rapid growth and expansion of the company.
Founded in 2016, Linktree is an Australian tech platform and link-in-bio tool, which allows users to aggregate their online ecosystems and enables content engagement and e-commerce.
“Linktree is a great Australian success story on a global stage. Listed in CNBC’s Upstart 100 in 2019 as one of 100 startups to watch, the company has seen phenomenal growth, hitting 8 million users in September this year,” consultant Ms Henderson said.
“There was fierce competition from investors globally to be part of this capital raising, a testament to the company’s success and potential. We have enjoyed working with Linktree’s founders to help them achieve this important milestone in its journey.”
Linktree’s co-founder and chief executive, Alex Zaccaria, said that from the beginning they have “been focused on creating a startup cut from a different cloth.”
“We’ve been bootstrapped and profitable from day one, and have achieved a lot in four years. I am incredibly proud to announce this raise alongside our incredible investor partners, and to leverage their expertise to create something truly unique in the tech startup sector,” Mr Zaccaria said.
“The team at Herbert Smith Freehills have been instrumental in this raise and we’re grateful for their hard work in getting this to where we wanted”.
