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US venture capital firm makes $221m investment in Octopus Deploy
Australian law firm Thomson Geer has advised Octopus Deploy on what’s being described as the second-largest ever venture capital investment in an Australian tech company.
Emma Musgrave
Firm: Thomson Geer (Octopus Deploy).
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Deal: Octopus Deploy has secured an investment from Insight Partners.
Value: $221 million.
Area: Finance.
Key players: The Thomson Geer team comprised of partner David Schiavello, partner Peta Thompson, senior associate Chris Chin, senior associate Ray Marshall and law graduate Munir Abdul, supported by employment partner Andrew Cardell-Ree, tax partner George Hodson and tax senior associate Fiona Stapleton.
Deal significance: Octopus Deploy is a Brisbane-based technology company established in 2011 by Brisbane couple Paul and Sonia Stovell. Octopus Deploy is used by over 25,000 organisations and automates complex software deployments. Since its inception the company has experienced consistent organic growth and profitability, now employing more than 100 people.
Meanwhile, Insight Partners is a New-York based global venture capital and private equity firm that specialises in investing in software ScaleUps and high-growth technology.
The investment from Insight Partners, will facilitate Octopus Deploy’s growth plans by upscaling their sales and go-to-market enterprise.
“It has been a great pleasure advising Octopus Deploy on what is a tremendously significant transaction for this grassroots Australian company,” said Thomson Geer Corporate partner Mr Schiavello.
“The investment from Insight Partners will no doubt see them grow from strength to strength.”
