3D digital twin software start-up Neara has been advised by LegalVision on its $20 million Series B capital raising round.
Firm: LegalVision (Neara)
Value: $20 million
Deal: LegalVision has advised Neara on its $20 million Series B capital raising round.
Key players: Practice leader Sophie Mao and lawyer Angelo Mazzone from LegalVision undertook the transaction.
Deal significance: LegalVision has worked with Neara on every capital raise since its inception. LegalVision looks forward to working with Neara as it continue to grow within Australia and eventually expand overseas.
Founded in 2016 as Power Lines Pro by Daniel Danilatos, a former Google software engineer, Neara’s original aim was to optimise power line design software.
Neara has since expanded into providing full digital solutions for the design, management and analysis of critical infrastructure, being used by a majority of Australian network utilities to enhance operations and response times to natural disasters.
The new funds will be used to expand to the USA, where there has been strong expressed interest by utilities companies in the management of bushfires.
Practice leader at LegalVision, Sophie Mao, said: “We’ve worked with Neara on every capital raise since their inception and their growth in the last few years has been astounding. They’ve received investment from some of the best investors in Australia, which is a testament to the strength of the business and their team. We look forward to continuing to work with Neara as they further establish their dominance in Australia and expand overseas.”
Jack Curtis, chief commercial officer at Neara, expressed gratitude towards LegalVision’s team.
“At each stage of our growth, Sophie, Angelo and the team at LegalVision have been there to guide and support us. They were instrumental in our success in closing this round and we look forward to continuing to work with them,” Mr Curtis said.