Orrick Herrington & Sutcliffe advised Algolia on the deal.
Algolia has raised a $150 million Series D funding round at a post-money valuation of $2.25 billion. Compared to the Series C round from October 2019, the company’s valuation has more than quadrupled. It means that Algolia is now a unicorn with a valuation above $1 billion.
Led by Lone Pine Capital, the round – which values the company at $2.25 billion – included Fidelity Management & Research Company, STEADFAST Capital Ventures, Glynn Capital, Twilio, and existing investors, including Accel and Salesforce Ventures.
This latest funding round brings Algolia’s total funds raised to $315 million. This investment will enable Algolia to scale and serve the increased demand for the company’s Search and Recommendations products, as well as fuel the company’s continued product expansion into adjacent markets and use-cases.
The Orrick team advising Algolia includes John Bautista (Picture), Paul Klimos, Alexander Napoles, Christopher Bulkley, Elizabeth Lefever, Benjamin Cichostepski and Vincent Babin.
Involved fees earner: Vincent Babin – Orrick Herrington & Sutcliffe LLP; John Bautista – Orrick Herrington & Sutcliffe LLP; Christopher Bulkley – Orrick Herrington & Sutcliffe LLP; Benjamin Cichostepski – Orrick Herrington & Sutcliffe LLP; Paul Klimos – Orrick Herrington & Sutcliffe LLP; Elizabeth Lefever – Orrick Herrington & Sutcliffe LLP;
Law Firms: Orrick Herrington & Sutcliffe LLP;
Clients: Algolia SAS;