Foley & Lardner LLP represented LottieFiles, a micro animation design company, in its $37 million Series B financing round. The round was led by Square Peg Capital, with participation from XYZ Venture Capital, GreatPoint Ventures, and returning investors 500 Startups and Microsoft Venture Fund, M12.
LottieFiles streamlines the process of turning animations made in software like Adobe After Effects into Lotties so they can be placed in apps. LottieFiles is now used by animation and motion designers at 150,000 companies, including Google, TikTok, Disney, Uber, Airbnb, and Netflix.
LottieFiles was founded in 2017 by Kshitij Minglani and Nattu Adnan and has raised approximately $47 million to date. Since the company’s Series A round, LottieFiles has grown from about 1 million users to 3.1 million. The company plans to use the latest funding to expand its product roadmap, hire engineering and research and development teams, and develop a new workflow that will make shipping Lottie animations easier so designers can focus more on animations.
The Foley team was led by Partner Louis Lehot and included Partners Krista Cabrera, Casey Knapp, Raj Tanden, Katherine Califa, Mike Overly, and Shabbi Khan, as well as Senior Counsel Alicia D’Alba Dorner and Associates Courtney King and Tiffany Young.
Foley’s Innovative Technology Team consists of over 135 attorneys across 25 offices, including corporate attorneys, litigators, and highly-skilled PhDs and engineers who can help navigate the nuances of technological advancements. Foley’s cross-disciplinary team of attorneys and professionals understands the impact of innovative technology and helps clients develop future-proof legal strategies for their businesses. The team supports founders and entrepreneurs with the tools they need to launch their business toward growth, no matter the stage. For more information, visit FoleyIgnite.com.