Cooley advised eco-friendly footwear company Allbirds on its $50 million Series C financing, bringing the company’s total funding to more than $75 million.
T. Rowe Price led the round, which also included participation by Fidelity and return backer Tiger Global. Allbirds plans to use the new capital to support deep research and development of sustainable materials, as well as an ambitious expansion strategy.
Allbirds is dedicated to making better things in a better way, using premium natural materials – including merino wool, a fabric made from eucalyptus fiber and a shoe sole made with a sugarcane-based, carbon-negative compound – to create sustainable footwear.
Cooley advised with a team including Peter H. Werner (Picture), Bradley Libuit, Libby Hadzima Perkins, Jacob B. Hanna and Arielle H. Friehling.
Law Firms: Cooley LLP;
Clients: Allbirds Inc.;