DLA Piper represented Riverwood Capital in its Series F investment in Sauce Labs Inc., a California-based provider of cloud-based mobile and web-testing platforms. In conjunction with the funding, Jeff Parks from Riverwood Capital will join the Sauce Labs Board of Directors.
Riverwood Capital is a private equity firm that invests in high-growth, middle-market companies in the technology, technology-enabled, and other related industries. Riverwood offers a unique combination of operational, strategic, technology, and financial insight to portfolio companies that typically need growth capital and expertise to scale globally. The firm invests in established businesses with dynamic management teams, a proven technology and business model, and the proper fit in terms of culture and values. Riverwood invests globally and participates in both minority and control deals. The firm has offices in Menlo Park, California; New York, New York; and Sao Paulo, Brazil.
Sauce Labs ensures the world’s leading apps and websites work flawlessly on every browser, OS and device. Its award-winning Continuous Testing Cloud provides development and quality teams with instant access to the test coverage, scalability and analytics they need to rapidly deliver a flawless digital experience.
The DLA Piper team was led by partner Louis Lehot (Silicon Valley), co-chair of the US Emerging Growth and Venture Capital practice, and associate Ian Hlatky (Los Angeles); and included partner Chung Wei (Silicon Valley); managing attorney Jacob Abrahams (Austin); attorney Suzana Gadzo (Silicon Valley); and associates Jennifer Kristen Lee, Angela Li, and Blake Jackson (all of Silicon Valley).