Herbert Smith Freehills' Venture Capital team has advised Reejig Pty Ltd on its most recent capital raise. The round was led by Salesforce Ventures, the corporate venture capital arm of Salesforce.
This new capital will be employed to fund the continued rapid growth and expansion of the company, further develop its award-winning workforce intelligence technology, and drive Reejig's mission for Zero Wasted Potential in people, businesses, and society.
Reejig - which has offices in Australia, the United States, the UK and Singapore - is an award-winning workforce intelligence platform that helps global enterprises find, mobilise, upskill and reskill talent at scale using Ethical Talent AI to provide visibility of workforce skills and potential and act as the 'central nervous system' for talent decisions.
Along with the new capital raise, Reejig announced the launch of the Reejig Impact Fund to help underrepresented communities unlock career opportunities, growth, and potential. The Reejig Impact Fund will donate Reejig's workforce intelligence technology to veteran, skilled refugee and other underrepresented communities, with a goal to reskill, build new capabilities, and remove barriers to career opportunities for all.
The Herbert Smith Freehills team was led by Co-Head of Venture Capital (Australia) Elizabeth Henderson, solicitor Vincent Greco Schwartz, and graduate Nick Venn.
Elizabeth Henderson said, "Congratulations again to Reejig's founders Mike, Siobhan and Shujia on another successful raise which follows both of the company's capital raises in October and December last year. As effects on the labour market from the pandemic persist, organisations will continue to recognise the benefits of ethical AI in workforce management and Reejig's offering."
Vincent Greco Schwartz said, "It was a pleasure working closely with the Reejig team to finalise this capital raise. The fact that the company was able to bring in funding from a large corporate venture investor is a testament to its growth potential and is a vote of confidence in the team, particularly given current market conditions."
Reejig co-founder and CTO Mike Reed said, "We are proud and excited to accelerate Reejig's mission to achieve Zero Wasted Potential in people, businesses, and society with this strategic investment from Salesforce Ventures. Thanks to Herbert Smith Freehills for their role in closing this deal, we are delivering our global mission through Reejig's enterprise-grade talent AI platform that is a force for good."
This deal is another example of Herbert Smith Freehills' market-leading work in Australian venture capital. Other recent examples include:
- Linktree on its US$10.7 million Series A, US$45 million Series B and its US$110 million capital raise
- Mr Yum on its A$89 million Series A capital raise
- Pearler's A$87.8 million Series Seed capital raise
- Kasada on its US$23 million Series C capital raise
- Dovetail Research on its US$63 Million Series A capital raise
- SafetyCulture on its A$60.5 million Series C capital raise.
