Lowenstein represented Ribbon, the real estate technology company, in its Series C financing of $75 million, with an additional $75 million in working capital, for a total of $150 million. The investment will enable more than $10 billion in home transactions annually and fuel Ribbon's swift expansion into new states.
The Series C was led by Greenspring Associates, with participation from existing investors Greylock, Bain Capital Ventures, NFX, Nyca, Thomvest, and Jake Seid as well as new strategic investors, including First American Financial, Waterfall Asset Management, TriplePoint Capital, Spencer Rascoff's 75 & Sunny Ventures, Gary Beasley, Gregor Watson, and Guy Gal.
Ribbon's homeownership platform allows real estate agents and lenders the ability to easily design winning cash offers, empowering their everyday homebuyers–while providing sellers with the certainty and speed of a guaranteed, on-time closing.
The deal team included Raymond P. Thek, Ed Zimmerman, Frank W. Eucalitto, Pooja Patel, and Brittany Armstead.
About Lowenstein Sandler LLP
Lowenstein Sandler is a national law firm with over 350 lawyers based in New York, Palo Alto, New Jersey, Utah, and Washington, D.C. The firm represents leaders in virtually every sector of the global economy, with particular emphasis on investment funds, life sciences, and technology. Recognized for its entrepreneurial spirit and high standard of client service, the firm is committed to the interests of its clients, colleagues, and communities.
