Herbert Smith Freehills’ Venture Capital team has assisted Index on its recent Series Seed capital raise of A$3.5 million, which valued the company at A$30 million.
Herbert Smith Freehills’ Venture Capital team has assisted Index on its recent Series Seed capital raise of A$3.5 million, which valued the company at A$30 million.
The funding round was led by Blackbird and Bain Capital Ventures, with participation from Y Combinator, BOND, as well as angels from Canva, Raycast, and Linktree.
Index is a new planning tool for B2B product management that enables product managers to collect ideas, manage feedback and build roadmaps, through a platform deeply integrated with key software development tools.
This new capital will be deployed to fund the growth and expansion of the business.
The Herbert Smith Freehills team comprised partners Toby Eggleston and Elizabeth Henderson together with senior associate, Adam Ong working across the firm’s Sydney and Melbourne offices.
Elizabeth Henderson said, “We were delighted to assist Index in its Seed raise led by Blackbird and Bain Capital Ventures and to have had the opportunity to work with the business during its years in stealth development mode. Congratulations to Index’s founders, Simon Kubica and Christian Iacullo, on a successful launch. It’s a credit to them to have secured funding from such high-quality lead investors in its first capital raise.”
Simon Kubica, Index co-founder and CEO, said, “It’s been a pleasure working with Toby, Elizabeth, Adam, and the rest of the team at HSF. We deeply benefitted from their understanding of early-stage startups, and their assistance ensured a smooth process during a crucial period for the business.”
This deal is another example of Herbert Smith Freehills’ market-leading work in Australian venture capital raisings. Other recent examples include:
- Safety Culture on its $75M Series F capital raise and $90M secondary sale and prior raises
- Deputy on its $37M Series C capital raise and prior raises
- Hapana on its A$17 million funding round
- Infravision on its A$36m Series A capital raise
- Constantinople on its $50 million Series A capital raise and A$32 million Series Seed capital raise
- Mr Yum on its A$89 million Series A capital raise and prior raises
- Linktree on its US$110 million capital raise in 2022 at a valuation of US$1.3 billion and prior raises
