Foley & Lardner LLP recently represented New Enterprise Associates, Inc. (NEA) as the lead investor in the $16.5 million Series A round for Flox, a DevOps startup that is making it easier for developers to use Nix and that platform’s vast repository of curated packages.
Nix is an open-source tool for creating reproducible builds and deployments and is becoming increasingly popular among developers. Flox’s mission is to take this incredibly powerful technology and bring it global. They reduce the barriers to adopting the Nix technology, as well as bridge the gaps to the enterprise. By creating an easy-to-use platform around Nix, Flox supercharges productivity for developers everywhere while also making their software more secure.
Leading Flox’s Series A financing was NEA, the global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors, and geographies. Founded in 1977, NEA has over $25 billion in assets under management as of December 31, 2022 and invests in technology and health care companies at all stages of a company’s lifecycle, from seed stage through IPO. The firm’s long track record of investing includes more than 270 portfolio company IPOs and more than 450 mergers and acquisitions.
Other backers of Flox include the D. E. Shaw group’s venture studio, Addition and Hetz Ventures. Notable angel investors include Thomas Dohmke, CEO at Github; Guy Podjarny, founder of Snyk; and James Turnbull, former CTO at Microsoft for Startups and VP at Docker, currently CTO at Sotheby’s.
The Foley team was led by Partner Louis Lehot and included Senior Counsel Alicia Dorner and Associates Saige Gallop and Trevor Mullin.
Foley’s Venture and Growth Capital Group understands the complex and diverse needs of both venture funds and their portfolio companies, offering a broad range of services at each stage of development. Foley’s attorneys have insight into the unique needs of high-growth companies.