DLA Piper represented Franklin Templeton Investments in connection with its investment into Optoro, Inc., the Washington, DC, headquartered returns optimization specialist.
Founded by entrepreneurs Adam Vitarello and Tobin Moore, Optoro, Inc. is a reverse logistics technology company providing retailers with services to process, manage and sell returned goods and excess inventory. Optoro's systems are deployed at 20 sites in the US with the plan of expanding to a total of 30 sites by year's end. The proceeds from the equity investment will be used to help Optoro enhance and expand its services to meet the growing demand for customer returns in the age of e-commerce.
Robert Stevenson, Christopher Chen and Kathleen Anderson led the team at Franklin Templeton Investments. The DLA Piper team representing Franklin Templeton Investments was led by partners Joshua Morse (San Francisco) and Louis Lehot and associate Nicole Hatcher and included assistance by associate Jonathan Luebbers (all of Silicon Valley).
Franklin Templeton Investments and other investors contributed a total of US$75 million of new funding to further Optoro's growth.
DLA Piper's global technology sector lawyers work across practice areas and offices to support technology clients at every stage of growth, from startups to fast-growing and mid-market businesses to mature global enterprises. DLA Piper's San Francisco and Silicon Valley offices draw from the firm's global resources to bring a depth of experience in technology to venture capital and strategic investors.