Edwards Wildman City team leads for tech startup on $5m funding round

The Cambridge, Massachusetts company has raised $3m (£1.9m) in equity out of the $5m it aims to gather.

The service, which embeds relevant coupons and adverts into food websites, has so far been funded by existing investors US Venture Partners and Valhalla Partners, with General Catalyst understood to be one of the company’s latest investors.

The London office of Edwards Wildman acted for Swoop, which launched in February this year, with private equity partner Shawn Atkinson taking the lead alongside Providence, Rhode Island-based corporate partner Thomas Jefferson.

West Coast firm Carr & Ferrell acted for the investors, led by the Menlo Park firm’s corporate co-chair Jill Fishbein.

Background to this deal:

In theory Swoop is a new client for Edwards Wildman, but Atkinson has worked with Swoop CEO Ron Elwell on other projects since 2007. This was in Elwell’s previous capacity as a partner at Bessemer Venture Partners, which is one of Atkinson’s key clients.

Most recently Atkinson advised Bessemer on a funding round for French advertising group Criteo (8 October 2012).