Foley Represents Five Elms Capital in $51M Series C Investment in Spacelift

Foley & Lardner LLP represented Five Elms Capital, a software-focused growth equity firm, in its lead investment in the $51 million Series C funding round of Spacelift, an infrastructure orchestration platform that manages the entire infrastructure lifecycle across multi-cloud and hybrid environments.

Spacelift’s platform integrates with infrastructure management tools such as Terraform, OpenTofu, and Ansible, enabling enterprises to automate deployment and configuration, increase developer velocity, and maintain governance and compliance at scale. The company serves customers across the financial services, software, health care, and government sectors.

The investment, which also included participation from Endeavor Catalyst and Inovo VC, will accelerate Spacelift’s product innovation, expand enterprise adoption, and advance the company’s commitment to simplifying complex infrastructure management through AI-powered automation.

The Foley deal team was led by partner Joseph Bernardi, with assistance from Blake Tengberg, Ellie O’Neill and Bayleigh Sauerwald (Corporate/Transactions), Aaron Tantleff (Intellectual Property), Jennifer Urban and Lauren Hudon (Data Privacy), John Litchfield and Tyler Dever (Labor & Employment), Kathleen Dreyfus Bardunias and Samantha Adams (Employee Benefits), and David Makso (Tax).