Cooley LLP advised IRL on the deal.
IRL, a social calendar application, announced its $170 million Series C financing round, which brings its valuation to more than $1 billion.
SoftBank’s Vision Fund 2 led the round, which also included participation from new investor Dragoneer and existing investors Goodwater Capital, Founders Fund and Floodgate. IRL will use the new capital to invest in product growth, international expansion and its creator and culture fund, as well as grow its 25-person team to 100 by year end.
IRL, a messaging-based social network, aims to solve technology addiction by bringing people together in real life. The app brings people together through events and shared experiences and features a series of suggestions for invites that users can send, which change regularly based on users’ interests or location, seasons and upcoming holidays. Its groups feature, which launched less than a year ago, provides social networking features like support for group chats.
The Cooley team was led by Steven Dunst (Picture), Sean O’Neill and Matt O’Brien. Additional assistance was provided by David Navetta, Mark Windfeld-Hansen, Michael Rose and David Burns.
Involved fees earner: David Burns – Cooley LLP; Steven Dunst – Cooley LLP; David Navetta – Cooley LLP; Sean O’Neill – Cooley LLP; Matt O’Brien – Cooley LLP; Michael Rose – Cooley LLP; Mark Windfeld-Hansen – Cooley LLP;
Law Firms: Cooley LLP;