Veev becomes the first private company to list its shares on the TASE UP platform
Sidley represented Veev, a building technology company that offers an automated panelized building process, in the completion of an approximately US$100 million financing round, for nearly US$200 million to date in total funding. Additional participants in Veev funding to date include Zeev Ventures, Lennar Ventures, Eclipse Ventures, Greenspring Associates, and Khosla Ventures. In connection with this financing, Veev became the first private company to list its shares on TASE UP, an innovative platform launched by the Tel-Aviv Stock Exchange (TASE: TASE) that allows technology companies to raise capital without performing an IPO. On TASE UP, private companies can access capital from institutional and qualified investors and remain private.
Veev offers a cost-effective and efficient building method that is based on automation and prefabrication and delivers superior quality. The company arrives at the current financing round having already achieved several significant milestones, including the recent completion of a 78-unit residential project in collaboration with the city of San Jose, in less than 90 days. The company is working in collaboration with local and national organizations to expand its footprint in California and nationwide, with more than 130 completed homes in the Silicon Valley region.
The Sidley team was led by Palo Alto partners Idan Netser (Tax, and Emerging Companies and Venture Capital) and Andrew Harper (Emerging Companies and Venture Capital), and also included Pamela J. Martinson and Allison J. Satyr (Global Finance); Stephen L. Cohen and Sara M. von Althann (Securities Enforcement and Regulatory); Kevin Blatchford, Michael Hyatte, and Helen Theung (Capital Markets); Marianne Tassone (Tax); and Jake Funk (M&A, and Emerging Companies and Venture Capital).
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