Linktree makes multimillion-dollar Series B capital raise
Global law firm Herbert Smith Freehills has advised Linktree on its US$45 million Series B capital raise.
Firm: Herbert Smith Freehills (Linktree).
Deal: Linktree has finalised a Series B capital raise.
Value: US$45 million.
Key players: The legal team advising Linktree was led by Herbert Smith Freehills partner and head of venture capital Peter Dunne, co-head of venture capital (Australia) Elizabeth Henderson, senior associate Rob Prosser, and solicitor Suman Prusty, working across the firm’s Sydney and Melbourne offices.
Deal significance: Linktree was founded in 2016 and is described as an Australian tech platform and link-in-bio tool that allows users to aggregate their online ecosystems, enabling content engagement as well as e-commerce.
According to a statement from Herbert Smith Freehills, the Series B round was led by global investment firm Coatue and international venture capital firm Index Ventures with existing investors, US private equity and venture capital firm Insight Partners and Australian venture capital firm AirTree Ventures, also participating. The new capital will be employed to build out social commerce tools and ramp up team growth globally.
The Series B capital raise follows a US$10.7 million Series A capital raise undertaken in 2020.
“Following so closely after Linktree’s Series A raise in 2020, this latest investment round speaks to the great success of this Australian company and the phenomenal attention it is receiving on the world stage,” said co-head of venture capital (Australia) Ms Henderson.
“We have been delighted to work with Linktree and its founders through their journey.”
Linktree’s co-founder and chief executive, Alex Zaccaria thanked the firm for its assistance in the matter.
“Working with the Herbert Smith Freehills team has been a reassurance at such an exhilarating time for our business. They helped guide us every step of the way,” he said.