Herbert Smith Freehills Kramer advises Lyrebird Health on its $12 million capital raise at $50 million valuation

Herbert Smith Freehills Kramer’s Venture Capital team has advised Lyrebird Health on its A$12 million capital raise at a A$50 million valuation.

The round, which included investment by Five V, Octopus Ventures, Horizon and Startmate will fund continued product development and global expansion.

Founded by Kai Van Lieshout in Melbourne, Lyrebird Health’s mission is to automate all non-patient facing work so that doctors can spend more time with patients and less time on paperwork. It has developed an AI medical scribe that securely listens in the background throughout a medical consultation, then intelligently generates a note tailored to a doctor’s style, ready to transfer into the medical record.

The Herbert Smith Freehills Kramer team was led by partner and Co-Head of Australia Venture & Growth Capital, Elizabeth Henderson, working with senior associate, Roy Carbone, and solicitors James Newton, Celine Nalbandian and Elle Henriksen and graduate, Lucca Rolim, with support from partner Toby Eggleston.

Elizabeth Henderson said, “We were delighted to work with Kai and the team at Lyrebird Health on their capital raise. With doctors busier than ever, the company’s mission to help doctors focus on their patients and enhance patient care is an important one.”

Lyrebird Health founder Kai Van Lieshout said, “We're incredibly grateful for the exceptional support and expert guidance Elizabeth Henderson and the Herbert Smith Freehills Kramer team provided throughout our Series A. Their deep expertise, unwavering dedication, and strategic advice were crucial to our successful raise.”

This deal is another example of Herbert Smith Freehills Kramer's market-leading work in Australian venture capital raisings. Other recent examples include:

• Blinq on its US$25 million Series A capital raise
• WeMoney on its A$12 million Series A capital raise
• Constantinople on its A$50 million Series A capital raise and A$32 million Series Seed capital raise
• SafetyCulture on numerous capital raises and secondary sales including its A$165 million Series C3 capital raise
• Linktree on its US10.7M capital raise in 2020, its US$45M capital raise in 2021 and its US$110M capital raise in 2022 at a valuation of US$1.3B.
• Mr Yum on its A$89M Series A & A$11M post-Seed capital raises
• Slice on its A$7.5 million Series Seed capital raise led by Peak XV Partners and a A$10 million debt facility from Roadnight Capital
• Culture Amp on its A$120 million Series E capital raise and A$135 million Series F capital raise and secondary sale
• Who Gives A Crap on its A$41.5 Million Series A capital raise