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Sonder completes multimillion-dollar capital raise

Global law firm Herbert Smith Freehills has advised Sonder Holdings on its capital raise worth $35 million.

user iconEmma Musgrave 28 September 2022 Big Law
Sonder completes multimillion-dollar capital raise
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Firm: Herbert Smith Freehills (Sonder Holdings Pty Ltd).

Deal: Sonder Holdings has been advised on its Series B capital raise. The round was led by Blackbird Ventures with participation from SEEK Investments, MA Growth Ventures, and SecondQuarter Ventures.

Value: $35 million.


Area: Venture capital.

Key players: The Herbert Smith Freehills team was led by co-head of venture capital (Australia) Elizabeth Henderson and solicitor Vincent Greco Schwartz.

The duo were supported by partner and co-head of venture capital (Australia) Clayton James, solicitors Roy Carbone and Katherine Duong and graduate Penelope Han. Partners Toby Eggleston and Fiona Smedley, senior associate Naison Seery, and paralegal Zoe Feldman also assisted.

Deal significance: Sonder was founded in 2017 and is described as a leading safety and wellbeing technology-driven platform supported by 24/7 safety, medical and mental health experts. The company provides support to nearly half a million employees and students across Australia and New Zealand.

According to a statement provided by Herbert Smith Freehills, this new capital will be employed to fund the continued growth and expansion of the company as it continues pursuing its strategy of providing personal safety, medical and mental health support for employees and students. 

Herbert Smith Freehills co-head of venture capital (Australia) Elizabeth Henderson said the deal marked an important next step for Sonder.

“This is an incredible achievement for Sonder and a credit to its Founders, Craig Cowdrey, Christopher Marr and Peter Burnheim, and senior management CFO, Ryan Kaveney, Head of Legal, Michael Bates and VP Strategy & Operations, Amy Dobbin," she said.

“We have very much enjoyed working with Sonder for the past three years on its growth journey and thank them for trusting Herbert Smith Freehills again to guide them through this transaction.”

Commenting further, solicitor Vincent Greco Schwartz said: “We were delighted to advise Sonder on its Series B capital raising and congratulate Craig, Chris, Peter and the rest of the team on this landmark transaction. Participation in the round by so many prominent investors highlights the continued success of Sonder’s platform and the importance of employee safety and wellbeing to employers.”

Sonder Co-Founder and CEO Craig Cowdrey thanked the HSF team for their support.

“Elizabeth and the wider team are trusted advisers for me and the Sonder Board, helping us navigate dynamic capital markets over the past three years,” he said.

“The completion of this $35 million Series B round is another important milestone on our journey to unlock the Sonder wellbeing model for millions of people around the world.”