DLA Piper advises Bessemer Venture Partners in Series A financing of Portainer

DLA Piper has advised global venture capital firm, Bessemer Venture Partners, in its recent Series A financing of New Zealand-based cloud computing start-up Portainer. With over $5 billion under management and an investment book of well over 200 companies globally, this deal marked the close of another successful investment for Bessemer Venture Partners in a market leading company excelling in its early and growth stages.

The DLA Piper team was led by corporate partner Martin Wiseman (New Zealand), working with senior associate Aoife O'Gorman. Corporate solicitor Jason An also advised, together with intellectual property and technology partner Nick Valentine.

Bessemer Venture Partners' latest investment augments Portainer's seed round undertaken last year, taking total funding to just over $10 million since the company was founded 5 years ago. The additional funding is expected to deepen existing relationships between Portainer and Bessemer Venture Partners, while accelerating Portainer's continued growth.

Portainer's technology provides an open source tool for managing containerized applications and allows users to manage containers without needing to know platform-specific code.