Herbert Smith Freehills Kramer's (HSF Kramer) venture capital team has advised Kasada Pty Ltd, a leading Australian cybersecurity company, on its A$30 million (US$20 million) Series E capital round.
The round was led by Gaillardia Pte. Limited and/or its affiliate(s) (EQT), with strong support from existing and new investors including Ten Eleven Ventures, Main Sequence Ventures, Reinventure and Turnbull & Partners.
This new capital will be employed to fund the continued rapid growth and expansion of the company.
Kasada is an Australian company that provides cybersecurity solutions designed to detect and prevent malicious automated bots, particularly artificial intelligence data-scraping bots, from accessing websites and applications.
The HSF Kramer team was led by partner Clayton James, senior associate Adam Ong, and solicitor Daniel Hu, working across the firm's Sydney and Melbourne offices.
Adam Ong said, "It was a pleasure working with the Kasada team on its latest capital raise. Supporting a company that is not only a market leader in advanced bot-defence technology but is also experiencing significant momentum, is incredibly rewarding. Kasada's innovative approach to detecting and preventing artificial intelligence data-scraping bots continues to set the benchmark for cybersecurity solutions."
Rob Goss, Kasada's Chief Financial Officer, said, "Clayton, Adam and Daniel were outstanding to work with on our Series E. Their command of the documentation was clear from the outset, and they consistently provided practical guidance to help us identify and resolve issues early. They were pragmatic, solutions-focused and highly responsive at every stage, which gave us confidence and momentum as we progressed through signing and closing."
This deal is another example of HSF Kramer's market-leading work in Australian venture capital raisings in the emerging technology sector. Other recent examples include:
- Infravision on its A$140m Series B capital raise.
- SafetyCulture on its A$165m Series C3 capital round
- Constantinople on its A$50m Series A capital raise led by Prosus Ventures and its A$32 million Series Seed capital raise backed by Square Peg and AirTree Ventures as well as strategic investor, Great Southern Bank
- Instant on its $18m Series A capital raise, led by Hummingbird Ventures and its Pre-Seed and Series Seed raises led by Blackbird