DLA Piper represents New Enterprise Associates in US$100 million Series C financing of DivvyPay

DLA Piper represented New Enterprise Associates, Inc. (NEA) in connection with its participation in a US$100 million round of Series C preferred stock financing of DivvyPay, Inc., a financial platform for businesses to manage payments and subscriptions, build strategic budgets and eliminate expense reports.

NEA is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With more than US$20 billion in cumulative committed capital since the firm's first fund closed in 1978, NEA invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 225 portfolio company IPOs and more than 375 acquisitions.

The DLA Piper team representing NEA was led by partner Louis Lehot (Silicon Valley), co-chair of the US Emerging Growth and Venture Capital practice, and included partners Rachel Paris and William Hoffman (both of Silicon Valley), and associate Jaspreet K. Mann (San Francisco).

DLA Piper's global technology sector lawyers work across practice areas and offices to support technology clients at every stage of growth, from startups to fast-growing and mid-market businesses to mature global enterprises. DLA Piper's Silicon Valley office draws from the firm's global resources to bring a depth of experience in technology to venture capital and strategic investors.

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