DLA Piper advised Anaconda, Inc., a leading company advancing AI development with open source at scale, in raising more than US$150 million in a Series C financing round led by global software investor Insight Partners, with participation from Mubadala Capital.
Since its founding in 2012, Anaconda has been one of the most widely used Python distribution platforms, with more than 21 billion downloads and 50 million users. Today, 95 percent of Fortune 500 companies and more than 10 thousand large enterprises utilize Anaconda. In addition to providing liquidity for current and former employees and investors, the capital raised will help Anaconda accelerate its transition to becoming a comprehensive model hub where organizations can securely access and manage all their AI building blocks, from models and datasets to libraries and dependencies, all purpose-built for Python development.
“It was a pleasure to advise Anaconda on its Series C financing and to be able to leverage the breadth and depth of our emerging growth and venture capital team to help the company successfully complete this transformational funding round,” said DLA Piper Partner Brent Bernell (Austin), who led the deal team.
With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 15 consecutive years, according to Mergermarket, and ranked as number one in VC, PE and M&A in combined global deal volume according to PitchBook.
DLA Piper’s Emerging Growth and Venture Capital practice includes more than 200 lawyers who provide strategic counsel to emerging companies in high-growth industries, including technology, healthcare, pharma & biotech, financial services, manufacturing, and communications. Over the last three years, DLA Piper has completed more than 1,800 financings globally totaling over US$50 billion.