COBALT is advising Interactio on attracting the largest Series A round investment in Lithuania

2021 - 05 - 25

COBALT is advising a leading platform of remote simultaneous interpretation Interactio on raising a $30 million Series A funding round. This is the largest round of the “Series A” so far in Lithuania and one of the largest in the Baltic States.

The Series A funding is led by Eight Roads Ventures and Silicon Valley-based Storm Ventures, along with participation from Practica Capital, Notion Capital, as well as notable angels such as Jaan Tallinn, the co-founder of Skype, and Young Sohn, ex-chief strategy officer of Samsung.

Interactio has provided RSI services for a wide host of international institutions and companies, including the United Nations, the European Commission, BMW, and JP Morgan, among others, allowing these groups to easily conduct remote or hybrid multilingual events and meetings.

The new funding will allow the company to further expand its team to support growth. Interactio will be looking for employees not only in its home country Lithuania, but also throughout Europe and the USA. The company plans to invest in remote simultaneous translation tools so that the experience is of the highest level for both translators and event attendees.

COBALT has advised on the structuring of the transaction, drafted transaction documentation, represented Interactio in negotiations and advised on other transaction-related matters. COBALT team is led by Partner and Co-Head in the Banking and Finance Practice Group Eva Suduiko. The team consists of Partner Akvilė Bosaitė and Associates Lukas Pultaražinskas, Milda Vaznelytė and Viktorija Melnik.

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