Orrick, working with the Lithuanian office of Cobalt, has advised Interactio, a Lithuania-based remote interpretation platform, on its recent USD 30 million Series A funding round, which was co-led by Eight Roads Ventures and Storm Ventures included Notion Capital and Practica Capital and angel investors such as Jaan Tallinn, the co-founder of Skype, and Young Sohn, ex-chief strategy officer of Samsung. Withersworldwide advised the investors.
According to Cobalt, the Series A funding round was the largest ever in Lithuania.
Interactio offers digital tools to connect meetings with certified interpreters who carry out real-time interpretation to bridge language-divides between participants. Its customers include institutions like the United Nations and the European Commission, along with corporates such as BMW, JP Morgan, and Microsoft. Interactio reportedly grew 12 times between 2019 and 2020 as demand for online meeting platforms surged during the coronavirus pandemic.
Orrick's team consisted of Partner Shawn Atkinson and Associate Nicholas Hayes.
Cobalt's team was led by Partner Eva Suduiko and included Partner Akvile Bosaite and Associates Lukas Pultarazinskas, Milda Vaznelyte, and Viktorija Melnik.
Withers' team was led by Partner James Shaw and included Associate Charlotte Berendt, Data Protection Specialist Yancho Yanchev, and Paralegal Sophia Mitropoulos.
Editor's Note: After this article was published CEE Legal Matter learned that Sorainen worked alongside Withers in advising the investors on the funding round, which the firm described as "the largest Series A round in Lithuania and one of the largest in the Baltics to date."
The firm's team was led by Partner Laimonas Skibarka and Counsel Jonas Kiauleikis and included Counsel Stasys Drazdauskas, Senior Associates Almina Ivanauskaite, Aurelija Daubaraite, and Irma Kirklyte, Associates Jurgita Tekoriene, Lukas Vaisvila, and Sidas Sokolovas, and Legal Assistant Barbora Bernatonyte.