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26 April 20232 minute read

DLA Piper advises SPAN in securing US$96 million in Series B2 funding round

DLA Piper advised SPAN, a leading innovator in home electrification technology, in securing a US$96 million Series B2 funding round led by Wellington Management and included existing investors Congruent Ventures, Capricorn Investment Group and Alexa Fund. The new round brings SPAN’s total funding to US$231 million since its 2019 founding.

The capital will be used to further SPAN’s leadership in the home electrification space by accelerating its research and development capabilities and continuing to expand its partnership reach to new categories, including major home appliances, smart home devices and grid integrations.

“We were thrilled to partner with SPAN to complete this financing round, which will enable SPAN to continue its mission of electrifying homes and expand its reach to more potential customers,” said Jonathan Axelrad, the DLA Piper partner who led the deal team.

In addition to Axelrad (San Francisco), the DLA Piper team that advised SPAN included senior associate Sougol Shooshtarian and junior associate Daniel Cooper as well as senior paralegal Peter Fisher (all San Francisco).

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 2,100 financings globally totaling over US$80 billion. 

DLA Piper's global Technology sector lawyers work across practice areas and offices to support technology clients – from startups to fast-growing and mid-market businesses to mature global enterprises – doing business around the world.