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Melbourne-based start-up moves into US market
Coghlan Duffy + Co has assisted Drawboard, a Melbourne-based start-up, to secure a $9 million capital raise to facilitate its growth into the US.
Naomi Neilson
Firm: Coghlan Duffy + Co (Drawboard)
Value: $9 million.
Area: Finance.
Key players: The team was led by director John Coghlan, with assistance from senior associate Zain Kazi and lawyer Carolin Darmanin.
Deal significance: Drawboard’s vision is to replace pen and paper, reduce waste and encourage sustainability. It has more than 1 million global users and clients utilising two software products.
Speaking on the raise, Mr Coghlan said it was a “significant and exciting step in Drawboard’s evolution” as the business looks to move more into the US market.
“We have had the pleasure of acting for Drawboard for nearly six years and, in that time, witnessed first-hand their dedication to creating incredible software. It is no surprise that they continue to grow from strength to strength,” he said.
Naomi Neilson
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly.
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