Cooley Advises New Enterprise Associates and Oak Investment Partners on $70 Million Series D Financing of NextNav
Reston – July 30, 2014 – Cooley LLP announced today that it advised investors New Enterprise Associates (NEA) and Oak Investment Partners on the $70 million series D funding of NextNav LLC.
NextNav is a location services provider that specializes in indoor and urban environments, where GPS is not reliably available. Any mobile device with NextNav’s positioning technology can chart its location when a GPS signal is not available, making the company’s service especially critical in medical and other emergencies.
According to the Washington Business Journal, “This appears to be the largest round of VC funding for a D.C.-area tech company so far this year.”
The Cooley team representing NEA and Oak Investment Partners included partners Mike Lincoln and Louis Lehot, and associates Derek Colla and Bobby Pratt. Critical support for the financing was provided by partner Jeremy Naylor (tax); special counsel John Logan (communications); and partner Erik Milch (intellectual property).