Much Advises on $40 Million Funding Deal for Chicago-Based Software Startup Ocient
Much is pleased to share that its Startups & Venture Capital team successfully closed a $40 million Series B funding round deal for Ocient, a data analytics software company that creates platforms able to handle and analyze massive amounts of data. Attorneys Greg Grove and Kristine LaVeau represented Ocient in the transaction.
Much has provided counsel to Ocient and its founder Chris Gladwin since the company's inception. The firm's Startups & Venture Capital group advises the company on general corporate matters and provides deal counsel on all financing affairs.
"We're pleased to serve our clients and to play an important role in supporting deals that position them for growth and success," said Greg, chair of Much's Startups & Venture Capital group. "Ocient is focused to serve sophisticated customers with the world's largest data sets, which is a fascinating area of development and a challenge the company is worthy of. We look forward to offering our counsel to Chris and the Ocient team as they continue to build the future."
Ocient's funding now totals $65 million, which the company plans to use to grow its employee headcount, specifically across its engineering, customer success, operations, sales and marketing teams. The company hopes to double its current headcount from 75 employees to 150 by the end of 2021.
Much's Startups & Venture Capital attorneys share the entrepreneurial spirit that fuels the pursuit of new technologies and new business opportunities. Much represents companies in every phase of growth and development, including idea stage, entity formation, angel financing, venture capital financing, mergers and acquisitions, IPOs and beyond.