Startup of 3D digital companion software LegalVision has provided counsel to Neara regarding its $20 million Series B capital raising round.
Neara, initially established in 2016 under the name Power Lines Pro by Daniel Danilatos, a former software engineer at Google, had the objective of enhancing software for power line design.
Since then, Neara has grown to offer comprehensive digital solutions for the design, administration, and analysis of critical infrastructure; the majority of Australian network utilities have implemented these solutions to improve operations and natural disaster response times.
The augmented capital will be allocated towards an expansion into the United States, a region where utilities companies have demonstrated considerable interest in conflagration management.
Sophie Mao, practice leader at LegalVision, remarked, “Since their commencement, we have collaborated with Neara on each capital raise, and their recent expansion has been phenomenal. Their investment from some of Australia’s most prestigious investors is evidence of the enterprise’s and its members’ prowess. We anticipate the continuation of our collaboration with Neara as they solidify their position of authority in Australia and pursue international expansion.
Neara’s chief commercial officer, Jack Curtis, conveyed appreciation to the LegalVision team.
“Throughout each phase of our development, Sophie, Angelo, and the LegalVision team have been there to provide guidance and assistance. Mr. Curtis stated, “They were crucial to our success in closing this round, and we look forward to continuing to collaborate with them.”