Mon, May
48 New Articles

Orrick Advises Rossum on Raising USD 100 Million from General Catalyst

Orrick Advises Rossum on Raising USD 100 Million from General Catalyst

Czech Republic
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Orrick has advised Rossum on raising USD 100 million from General Catalyst in a Series A funding round. Ropes and Gray reportedly advised GC.

Previous investors including LocalGlobe, Seedcamp, Miton, and Elad Gil also participated in the round.

Rossum is an artificial intelligence company, founded by three PhD students from the Czech Technical University in Prague, that is, according to Orrick, "re-inventing the way businesses send documents to each other." General Catalyst is a US-based investment fund.

According to Rossum, this "is Eastern Europe’s largest-ever Series A." According to the Czech-based company, its solution "helps you to organize and automatically process all your incoming document traffic. Whether you receive invoices, purchase orders, packing lists, claims, any other transactional documents, or all of these, Rossum automates your business communication."

"There is a hidden opportunity in the fact that every single product in the world requires hundreds of companies to cooperate, and that produces thousands of transactions," said Rossum CEO Tomas Gogar. "As market leaders in document AI technology, we are in a unique position to transform the way these transactions are communicated and processed. Rossum already saved billions of keystrokes in data entry for our clients. Now we are saving people’s time across the whole process of transaction handling by building an end-to-end business communication platform. Businesses large and small are waking up to the huge gains that they will make from such a system and they trust us to deliver it."

"Rossum spotted a problem that is so ubiquitous that we rarely even think about it," added General Catalyst Managing Director Trevor Oelschig. "The founders realized the massive hidden opportunity and created a disruptive solution based on an entirely new deep technology. Rossum is still early on its journey, but it has already grown into a company with worldwide reach that has had a tremendous impact on global enterprise customers."

Orrick’s team was led by Partner Shawn Atkinson and included Managing Associate Stephen Tallon, Attorney Jason Wu, Associate Shaun Malone, Trainee Solicitor Hanna Hewitt, and Paralegal Siddharth Balani.

Czech Republic Knowledge Partner

PRK Partners, one of the leading Central European law firms, has been helping clients achieve their business objectives almost 30 years. Our team of lawyers, based in our Prague, Ostrava, and Bratislava offices, has a unique knowledge of Czech and Slovak law and of the business environment. Our lawyers studied at top law schools in the United States, United Kingdom, Switzerland and elsewhere. They also have experience working for leading international and domestic law firms in a number of jurisdictions. We speak your language, too. Our legal team is fluent in more than 15 languages, including all the key languages of the region.

PRK Partners has one of the most experienced legal teams on the market. We are consistently rated as one of the leading law firms in the region. We have received many significant honours and awards for our work. We represent the interests of international clients operating in the Czech Republic in an efficient way, combining local knowledge with an understanding of their global requirements in a business-friendly approach. We are one of the largest law firms in the Czech Republic and Slovakia. Our specialised teams of lawyers and tax advisors advise major global corporations as well as local companies. We provide comprehensive legal advice drawing on our profound knowledge of local law and markets.

Our legal advice delivers tangible results – as proven by our strong track record. We are the only Czech member firm of Lex Mundi, the world's leading network of independent law firms. As one of the leading law firms in the region, we have received many national and international awards, in some cases several years in a row. Honours include the Chambers Europe Award for Excellence, The Lawyer and Czech and Slovak Law Firm of the Year. Thanks to our close cooperation with leading international law firms and strong local players, we can serve clients in multiple jurisdictions around the globe. Our strong network means that we can meet your needs, wherever you do business.

PRK Partners has been repeatedly voted among the most socially responsible firms in the category of small and mid-sized firms and was awarded the bronze certificate at the annual TOP Responsible Firm of the Year Awards.

Our work is not only “business”: we have participated on a longstanding basis in a wide variety of pro bono projects and supported our partners from the non-profit sector (Kaplicky Centre Endowment Fund, Tereza Maxová Foundation, Czech Donors Forum, etc.).

Firm's website: www.prkpartners.com

Our Latest Issue