Accel backs Pyn in capital raise
Herbert Smith Freehills has advised Pyn on its Series Seed capital raise led by Accel.
Firms: Herbert Smith Freehills (Pyn)
Deal: Herbert Smith Freehills’ private equity and venture capital team has advised Pyn on its Series Seed capital raise.
Pyn (www.pynhq.com) is an Australian technology company focused on providing businesses with online internal employee communications platforms. The round was led by global venture capital firm Accel, with Pyn using the funds for its rapid growth and general working capital.
Area: Venture capital.
Key players: The Herbert Smith Freehills team was led by head of venture capital, Peter Dunne, who was supported by solicitor Catie Moore.
Deal significance: Pyn is an employee communications platform for distributed organisations. There has been an accelerated shift toward more remote work, and Pyn helps companies reach their employees when they need clarity or support.
Accel, who backed Atlassian in 2010, has led the investment into a new start-up.
Pyn is led by Jon Williams, a former co-founder of Culture Amp, and Joris Luijke, the former people chief at Atlassian and Squarespace.
Both founders bring a people and culture focus on the business, and have developed a learning and communications platform that provides helpful, tailored content to managers and employees when they need it.
“We are delighted to have advised Pyn on this landmark Series Seed capital raise led by global venture capital firm Accel,” Ms Moore said.
“It has been great to have assisted Pyn and we look forward to the next stage of the company’s journey.”