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Neuron

1623436179-neuron

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<html><head></head><body>On May 24, 2023, Insider, an Istanbul-based leading marketing platform for delivering individualized, cross-channel customer experiences, announced an investment of up to $105 million from existing investors Qatar Investment Authority (QIA) and Esas Private Equity. With this latest investment, Insider&#x2019;s total funding amount reaches $274 million. The funds will be used exclusively to accelerate Insider&#x2019;s M&amp;A strategy to build upon the company&#x2019;s existing technology and capabilities.
A Wilson Sonsini Goodrich &amp; Rosati team represented Insider in the transaction. The team was led by <a class="rubycontent-page-link rubycontent-page-1154" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1154">Michael Labriola</a>, <a class="rubycontent-page-link rubycontent-page-1742" title="Elisa Sielski" href="https://www.wsgr.com/en/people/elisa-sielski.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1742">Elisa Sielski</a>, and <a class="rubycontent-page-link rubycontent-page-212657" title="Michael Chern" href="https://www.wsgr.com/en/people/michael-chern.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::212657">Michael Chern</a>.
For more information, please see Insider&#x2019;s <a href="https://useinsider.com/news/insider-announces-105-million-usd-investment/">press release</a>.</body></html>

Wilson Sonsini Advises Insider on $105 Million Investment Round

<html><head></head><body>On May 16, 2023, optogenetics company Ray Therapeutics announced an upsized and oversubscribed $100 million Series A financing led by Novo Holdings A/S. The asset manager was joined by Deerfield Management, Norwest Venture Partners, Platanus, MRL Ventures Fund, the therapeutics-focused corporate venture fund of Merck &amp; Co., Inc., and existing investor 4BIO Capital. Wilson Sonsini Goodrich &amp; Rosati represented Novo Holdings, Norwest Venture Partners and Platanus on the transaction.
Ray Therapeutics is focused on developing the world&#x2019;s first bioengineered optogenetic therapies designed to help improve visual function. The company plans to use proceeds to advance various programs that target blinding diseases.
The Wilson Sonsini team advising Novo on the deal includes:
Corporate <a class="rubycontent-page-link rubycontent-page-1179" title="Dan R. Koeppen" href="https://www.wsgr.com/en/people/dan-r-koeppen.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1179">Dan Koeppen</a> <a class="rubycontent-page-link rubycontent-page-1441" title="Kassandra K. Castillo" href="https://www.wsgr.com/en/people/kassandra-k-castillo.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1441">Kassandra Castillo</a>
Patents and Innovations&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0; <a class="rubycontent-page-link rubycontent-page-1137" title="Maya Skubatch" href="https://www.wsgr.com/en/people/maya-skubatch.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1137">Maya Skubatch</a> <a class="rubycontent-page-link rubycontent-page-4948" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::4948">Eric Grote</a> <a class="rubycontent-page-link rubycontent-page-48995986" title="Evan Abbaszadeh" href="https://www.wsgr.com/en/people/evan-abbaszadeh.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::48995986">Evan Abbaszadeh</a> Phoebe Luo
Technology Transactions - Biotech <a class="rubycontent-page-link rubycontent-page-1332" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1332">Lauren Wardle</a> <a class="rubycontent-page-link rubycontent-page-248823" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::248823">Taylor Arterburn</a> <a class="rubycontent-page-link rubycontent-page-247224" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::247224">Kacey Rajkovich</a>
CFIUS/National Security <a class="rubycontent-page-link rubycontent-page-1746" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1746">Joshua Gruenspecht</a> <a class="rubycontent-page-link rubycontent-page-218189" title="Michael S. Casey" href="https://www.wsgr.com/en/people/michael-s-casey.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::218189">Mike Casey</a> <a class="rubycontent-page-link rubycontent-page-1881" title="Jonathan R. Davey" href="https://www.wsgr.com/en/people/jonathan-r-davey.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1881">Jonathan Davey</a>
For more information, please see the <a href="https://www.businesswire.com/news/home/20230516005101/en/Ray-Therapeutics-Closes-Oversubscribed-100M-Series-A-Financing-to-Advance-Optogenetic-Gene-Therapies-for-Blinding-Diseases">press release</a>.</body></html>

Firm Advises Novo Holdings, Norwest Venture Partners, and Platanus on Investment in Ray Therapeutics

Client Highlights

<html><head></head><body>On May 16, 2023, Boundless Bio, a clinical-stage, next-generation precision oncology company developing innovative therapeutics directed against extrachromosomal DNA (ecDNA) for patients with oncogene amplified cancers, announced the closing of a $100 million Series C financing. The financing was co-led by Leaps by Bayer, the impact investment arm of Bayer AG, and RA Capital Management, with participation from additional new investors Sectoral Asset Management and Piper Heartland Healthcare Capital. Wilson Sonsini Goodrich &amp; Rosati advised Boundless Bio on IP matters related to the transaction.
The Wilson Sonsini team included <a class="rubycontent-page-link rubycontent-page-1149" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1149">Michael Hostetler</a>, <a class="rubycontent-page-link rubycontent-page-1274" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1274">Deborah Smith</a>, <a class="rubycontent-page-link rubycontent-page-1377" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1377">Alicia Umpierre</a>, <a class="rubycontent-page-link rubycontent-page-1370" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1370">C&#xE9;line Bonnefous</a>, <a class="rubycontent-page-link rubycontent-page-1468" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1468">Jennifer Floyd</a>, <a class="rubycontent-page-link rubycontent-page-16913" title="Erin Boyle Anderson" href="https://www.wsgr.com/en/people/erin-boyle-anderson.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::16913">Erin Boyle Anderson</a>, and <a class="rubycontent-page-link rubycontent-page-246322" title="Trevor Lyons" href="https://www.wsgr.com/en/people/trevor-lyons.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::246322">Trevor Lyons</a>.
For more information, please see Boundless Bio&#x2019;s <a href="https://www.businesswire.com/news/home/20230516005138/en/Boundless-Bio-Announces-100-Million-Oversubscribed-Series-C-Financing-co-led-by-Leaps-by-Bayer-and-RA-Capital-Management-to-Advance-the-First-ecDNA-Directed-Therapies-ecDTx-for-Patients-with-Oncogene-Amplified-Cancer">news release</a>.</body></html>

Firm Advises Boundless Bio on IP Matters Related to $100 Million Series C

<html><head></head><body>On April 25, 2023, software developer platform Replit announced that it has raised $97.4 million at a $1.16 billion post-money valuation. Wilson Sonsini Goodrich &amp; Rosati advised Replit on the transaction.
Replit is the fastest-growing software development platform globally.&#xA0; Replit enables developers to quickly set up any development environment and release fully functional live apps in seconds, from anywhere on any device, with the power of AI.&#xA0; The company plans to use the proceeds from the fundraising to support its core development experience, expand its cloud services for developers, and drive innovation in AI and LLMs through its Ghostwriter product.
The financing was led by Andreessen Horowitz&apos;s Growth Fund with participation from Khosla Ventures, Coatue, SV Angel, Y Combinator, Bloomberg Beta, Naval Ravikant, ARK Ventures, and Hamilton Helmer. As part of the transaction, previously-invested SAFEs converted, including those of more than 2,500 Replit community members in a Wefunder crowdfunding in 2022.
The Wilson Sonsini team included <a class="rubycontent-page-link rubycontent-page-1052" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1052">Yokum Taku</a>, <a class="rubycontent-page-link rubycontent-page-1281" title="Lang Liu" href="https://www.wsgr.com/en/people/lang-liu.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1281">Lang Liu</a>, <a class="rubycontent-page-link rubycontent-page-1475" title="Avi Emanuel" href="https://www.wsgr.com/en/people/avi-emanuel.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1475">Avi Emanuel</a>, and <a class="rubycontent-page-link rubycontent-page-248893" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::248893">Madisyn Klein</a>.
For more information, please see the company&#x2019;s <a href="https://www.prnewswire.com/news-releases/cloud-developer-platform-replit-raises-97-4m-at-1-16b-valuation-to-further-its-lead-in-ai-development-and-continue-its-exponential-growth-301807085.html">press release</a> or media coverage on <a href="https://www.reuters.com/technology/cloud-developer-platform-replit-valued-116-bln-after-latest-funding-round-2023-04-25/">Reuters</a>.</body></html>

Replit Raises $97.4 Million, Valuing Company at $1.16 Billion

On April 17, 2023, Voluware, an award-winning provider of solutions to speed and simplify prior authorizations, announced a capital investment from Hughes &amp; Company. The additional capital will accelerate the company's product innovation and devote more resources to expanding payer coverage and geographic footprint, and client onboarding and support. With growing interest in Voluware from providers of revenue cycle management and electronic medical record solutions, the additional capital will also enable Voluware to acquire and support more partnerships and resellers for its prior authorization products.
Wilson Sonsini Goodrich &amp; Rosati represented Voluware in the transaction. The Wilson Sonsini team was led by <a href="https://www.wsgr.com/en/people/meg-burton.html">Meg Burton</a>, <a href="https://www.wsgr.com/en/people/martin-j-waters.html">Marty Waters</a>, and <a href="https://www.wsgr.com/en/people/tim-conroy.html">Tim Conroy</a>.
For more information, please see Voluware's <a href="https://www.prnewswire.com/news-releases/emerging-health-it-leader-voluware-announces-growth-investment-from-hughes--company-301797796.html">press release</a>.

Wilson Sonsini Advises Voluware on Investment from Hughes & Company

<html><head></head><body>On April 20, 2023, Ebb Carbon, an ocean-based carbon dioxide removal (CDR) company founded by former Tesla, SolarCity, and Google X executives, announced that it has raised a $20 million Series A to develop and deploy its technology, which enhances and speeds the ocean&#x2019;s natural ability to capture and permanently store CO2 from the atmosphere. The $20 million Series A was raised across two closes, led by Prelude Ventures and Evok Innovations, respectively. The second close was completed at an increased valuation at the end of March 2023. This adds to a previous seed funding round of $3 million, bringing the total raised to date to $23 million. Other investors in Ebb include Congruent, Grantham, and Incite. Wilson Sonsini Goodrich &amp; Rosati advised Ebb Carbon on the transaction. The $20 million Series A fundraise marks the largest investment to date in an ocean-based carbon dioxide removal technology. With this funding, Ebb will begin to deploy its first systems&#x2013;one with the capacity to remove 100 tons of CO2 later in 2023, and a 1,000-capacity system shortly thereafter. The Wilson Sonsini team who advised Ebb on the transaction includes <a class="rubycontent-page-link rubycontent-page-1231" title="Scott A. Zimmermann" href="https://www.wsgr.com/en/people/scott-a-zimmermann.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1231">Scott Zimmermann</a>, <a class="rubycontent-page-link rubycontent-page-1580" title="Jason Slagle" href="https://www.wsgr.com/en/people/jason-slagle.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1580">Jason Slagle</a>, <a class="rubycontent-page-link rubycontent-page-186592" title="Karli McConnell" href="https://www.wsgr.com/en/people/karli-mcconnell.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::186592">Karli McConnell</a>, <a class="rubycontent-page-link rubycontent-page-248829" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::248829">Angela Chan</a>, and Kristy Strohm.
For more information, please see Ebb Carbon&#x2019;s <a href="https://www.businesswire.com/news/home/53383980/en">press release</a>.</body></html>

Wilson Sonsini Advises Ebb Carbon on $20 Million Series A

<html><head></head><body>On April 19, 2023, software company Trustible announced that it has raised $1.6 million in an oversubscribed first institutional round of financing. The pre-seed round was led by Harlem Capital, with participation from VamosVentures and strategic angel investors. Wilson Sonsini Goodrich &amp; Rosati advised Trustible on the transaction.
Washington, D.C.-based Trustible helps organizations accelerate Responsible AI governance by using its product to adopt industry standards, such as NIST&apos;s AI Risk Management Framework, and comply with emerging regulations, including the European Union&apos;s AI Act. The company plans to use the financing to scale its team, accelerate growth and further develop its product.
The Wilson Sonsini team includes <a class="rubycontent-page-link rubycontent-page-1433" title="Matt Squires" href="https://www.wsgr.com/en/people/matt-l-squires.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1433">Matt Squires</a>, <a class="rubycontent-page-link rubycontent-page-1725" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1725">Sean Semmler</a>, and <a class="rubycontent-page-link rubycontent-page-232687" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::232687">Luis Fortu&#xF1;o</a>.
For more information, please see the company&#x2019;s <a href="https://www.prnewswire.com/news-releases/trustible-emerges-from-stealth-to-enable-responsible-ai-governance-amid-growing-regulatory-concerns-301800735.html">press release</a>.</body></html>

Firm Advises Trustible on $1.6 Million Financing

On March 20, 2023, Wilson Sonsini was named the winner of the "Enabling Start-Up Success" award as part of Legalweek&rsquo;s Leaders in Tech Law Awards for its creation of <a href="https://ecp.wsgr.com/neuron">Neuron</a>, the firm's proprietary, cloud-based software platform. The firm was also a finalist in the "Tech-Enabled Corporate Department of the Year" category. The winners were announced at the 2023 Legalweek Conference in New York.
In addition, Wilson Sonsini&rsquo;s Chief Operating Officer, <a href="https://www.wsgr.com/en/people/chris-boyd.html">Chris Boyd</a>, won the "Lifetime Achievement" award, which recognizes leadership, process excellence, and technology innovation at the firm. Chris has led strong teams who have delivered value to the firm and its clients through innovative projects, such as the deployment of a new hybrid work model, the creation of a knowledge management program, and the creation of an on-demand learning format.
In its third year, the annual Legalweek Leaders in Tech Law Awards honors individuals and organizations for their innovation advancement efforts.
<a rel="noopener" href="https://www.event.law.com/legalweek-leaders-tech/2023-finalists" target="_blank">Click here</a> to see the full list of finalists and winners.

Wilson Sonsini Wins Award for “Enabling Start-Up Success” and Chris Boyd Receives Lifetime Achievement Recognition at 2023 Legalweek Tech Law Awards

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