Herbert Smith Freehills’ private equity and venture capital team has advised Different Technologies Pty Ltd (:Different) on its A$25 million Series B capital raise. The round was led by the Commonwealth Bank’s venture scaling arm, x15ventures and co-led by Antler.
This new capital will be employed to fund the continued rapid growth and expansion of the company.
:Different is an Australian technology company that provides streamlined technology-enabled property management and home services to ensure both transparency and efficient communication for tenants and owners. It was founded in 2016 by Mina Radhakrishnan and Ruwin Perera with an aim to make property management cheaper and more efficient for property investors, which are overwhelmingly mum and dad investors, or just “regular people”.
The Herbert Smith Freehills team was led by partner and Head of Venture Capital, Peter Dunne who was supported by senior associate Wendy Tian and solicitor Roy Carbone.
Roy Carbone said, “It was great to work with :Different’s founders, Ruwin and Mina once again on this strategically important capital raise that will enable it to continue building its business and expand its offering to Commonwealth Bank’s significant customer base. We are excited to see :Different reach this milestone and look forward to working with the company again in the future as it continues to grow.”
:Different’s co-founder, Ruwin Perera, said: “HSF has been there for :Different through every financing since we started the company. We could not ask for more thoughtful supportive and dedicated partners than Peter, Wendy, Roy and the HSF team.”
This deal is another example of Herbert Smith Freehills’ market-leading work in the Australian technology sector and Australian venture capital. Other recent examples include:
- Kasada on its A$15 million Series B capital raise;
- SafetyCulture on its A$60.5 million Series C capital raise and secondary sale;
- Deputy Group on its A$111 million Series B capital raise;
- Culture Amp on its A$120 million Series E capital raise; and
- capital raises for Verteva (Nano Home Loans), Sonder, Gilmour Space, Nura, Roborigger, Reejig, Elenium Automation, Campaign Monitor, Tyro Payments, :Different, Shore Trade, Buckitdream and others.