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