Cooley Again Ranks Among Leading AI Transactional Firms

New York – July 31, 2024 – In the second quarter of 2024, Cooley maintained its prevailing position at the forefront of significant transactions in the artificial intelligence (AI) ecosystem – including prominent M&A deals, venture financings, public offerings and fund formations.

Based upon a review of PitchBook’s deal database, the firm ranked second overall for venture capital transactions involving AI companies and their investors.* During the quarter, the firm worked on 76 reported venture capital transactions totaling nearly $3.15 billion in deal value. Among the dozens of novel deals handled by the firm, representative venture financing deals included work for Sword Health, which pioneers the use of AI to power the delivery of patient care, on its raise of $130 million in a mix of primary and secondary sales; SmarterDx, a leader in clinical AI for care quality and revenue integrity, on its $50 million financing; and GrayMatter, an AI-powered robotics leader empowering humans with intelligent automation, on its $45 million financing.

Cooley also ranked third overall for the quarter based on its volume of M&A transactions involving AI companies. A few of the firm’s M&A matters included representing:

• AI-powered and data-driven cloud security company Lacework on its acquisition by Fortinet.
• AI-based software company Freshworks on its acquisition of Device42 – a company the firm previously represented on its $1.15 billion initial public offering (IPO).
• AI-focused tech consultancy firm Nuvalence on its acquisition by EY.
• Social media management company Hootsuite on its acquisition of Talkwalker, an AI-powered social listening solution.

The firm also announced and closed two IPOs involving AI/AI-enabled companies, advising:

• Tech company Tempus AI, which advances precision medicine through AI in healthcare, on its $410 million IPO.
• The underwriters for Silvaco, a provider of technology computer-aided design, on its $114 million IPO.

Demonstrating how Cooley continues to deliver value in the AI space, the firm also represented Silicon Valley-based venture capital firm Andreessen Horowitz on its closing of $7.2 billion for new funds invested across various tech sectors globally – including AI infrastructure ($1.25 billion) and AI apps ($1 billion).

Cooley represents top high-growth companies across the entire AI ecosystem in corporate deals, ranging from financings and M&A to private equity and capital markets transactions. The firm also advises companies and funds on investments in – and acquisitions of – AI companies and technologies.

* PitchBook’s deal database has not been reviewed by PitchBook analysts.

About Cooley LLP

Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law.

Cooley has more than 1,300 lawyers across 19 offices in the United States, Asia and Europe, and a total workforce of nearly 3,000.

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