Orrick has advised Asana on its $50 million Series E financing found, bringing its post-money valuation to $1.5 billion. The latest Bay Area startup to achieve “unicorn” status, Asana is a leading work management platform for teams.
Led by Generation Investment Management — a London-based investment firm co-founded by Al Gore — this latest round also included existing investors 8VC, Benchmark Capital and Founders Fund, as well as new investors Lead Edge Capital and World Innovation Lab.
This funding round brings Asana’s total funds raised in 2018 to $125 million. Asana intends to leverage the latest funding to continue its growth, including opening an EU data center and expanding the company’s global footprint in the Asia Pacific region.
Orrick has represented Asana since it was founded in 2008 by Dustin Moskovitz and Justin Rosenstein. The Orrick team was led by partner Stephen Venuto and included associates Brandon Sanders and Brigid McCurdy.