Foley Hoag Advises Sketchfab in $2M Series A Financing
December 17, 2013
Foley Hoag LLP recently advised Sketchfab, Inc., an innovative online publishing platform for interactive 3D models, in its $2 million Series A financing.
Originally founded in Paris in 2012 and now headquartered in New York City, Sketchfab supplies professional 3D content creators such as designers, architects, engineers and artists with an easy-to-use web service that enables them to publish and embed their interactive 3D models on any web page in real-time without the need for plugins. The company, which graduated from TechStars NYC in June 2013, has a quickly-growing user base of almost 100,000 users, with models uploaded to the platform generating more than three million page views a month. Sketchfab is integrated with most major 3D software packages and has been the first service to bring interactive 3D display to platforms like Kickstarter, Linkedin, Reddit and Behance. The company’s technology is also used by major brands and media outlets to unveil new products online.
Foley Hoag attorneys Matthew Eckert and Prithvi Tanwar serve as the company’s general counsel and also advised Sketchfab through the transaction. Balderton Capital, based in the UK, led the round, with participation from France-based Partech Ventures, Borealis Ventures, TechStars co-founder David Cohen and existing angel investors. Sketchfab will use the funding round to scale its platform, expand its team and continue to develop and improve its product.
Alban Denoyel, Sketchfab’s CEO, remarked that “working with Matt and Prithvi has been very helpful to start operating Sketchfab in the US. They were able to quickly adapt our French setup to U.S. requirements, and provide general business guidance beyond pure legal matters. They were also instrumental in closing this first venture round for Sketchfab."
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