Workable raises $27 million in Waterfront’s biggest VC deal of 2015
It’s been a busy year for deals in the Corporate team. But the biggest venture capital deal the team has advised on in 2015 has been for Workable, the cloud-based recruitment software company for SMEs.
Waterfront has acted for Workable on two previous investment rounds, since the business was incorporated in the UK. The business is one of a number of companies Waterfront has worked with, which was originally seeded by the Openfund. The Openfund partners pioneering technology companies, registered and operating in Greece.
Workable was established in Athens in 2012, but has gone on to become a global business. This third round of investment raised $27 million and was led by Balderton Capital, with Notion Capital and existing investor 83 North (previously Greylock IL) also investing.
Workable is only three years old and seems to have defied the Greek financial crisis, being described in a recent blog by CNBC as ‘the poster child of entrepreneurial success in Greece’. The business already has 3500 customers in 50 countries.
Head of Corporate, Matt Cunningham said, “It’s great to have Workable as a client, as they go from strength to strength, gathering significant and increasing investment for each of their funding rounds.”
Co-founder and CEO of Workable, Nikos Moraitakis commented, “The Waterfront Corporate team has been with us every step of the way since we first began fund raising in the UK. Having a law firm which really understands our business and the world of tech has given us a significant advantage and we’re pleased to have established an ongoing relationship which smooths the path for future growth.”
The Waterfront team advising on this transaction was led by Matt Cunningham, who was recently recognised in top legal directory, Chambers UK 2016 as a venture captial expert. He was supported by corporate solicitor, Graham Halliday. Visit our deals pages to find out more about the team’s work.