Covington Advises Commerce Layer in Series A Preferred VC Financing and Reorganization

Covington Advises Commerce Layer in Series A Preferred VC Financing and Reorganization

May 28, 2020

PALO ALTO —Covington advised Commerce Layer in its $6M Series A Preferred VC Financing, led by Benchmark with participation from Mango Capital, DAXN, PrimeSet, SV Angel, and NVInvestments. The investment required the Covington team to also reorganize Commerce Layer by establishing a US parent company for its existing Italian business. 

Commerce Layer provides a commerce platform and order management system that allows businesses to add global shopping capabilities to any website, mobile app, chatbot, or IoT device, with ease. The funding enables Commerce Layer to continue expanding in more geographies and adding in more endpoints to fit the needs of its current (and future) customers.  The company expects to continue its development work in its Italian subsidiary.

The Covington corporate team included Tom DeFilipps, Henry Bett, Natalie Oveyssi, and Caterina Benson, with technology transactions assistance from Brandon Palmen and tax assistance from Kevin Zaragoza and Jon Endean. Commerce Layer also received assistance from Italian lawyers at Chiomenti.