Schiff Hardin Represents RocaNews in Seed Round and Acquisition

Schiff Hardin LLP advised RocaNews (Roca), a news platform aiming to democratize the news, on raising its $4.4 million seed round and its acquisition of newstech company River.

Roca’s online platform will incorporate AI and Web3 technology to eliminate partisanship and deliver factual and engaging content to viewers. The funding and acquisition enable Roca to hire writers and developers to expand its news offerings and launch a social news platform.

The seed round was led by Ori Allon, a tech entrepreneur, who founded the search engine Orion (sold to Google), social information platform Julpan (sold to Twitter), and Compass (a multi-billion dollar real estate technology platform).

Partners Sarah Fitts, Lynn Watkins, Evgeny Magidenko, and Edward Spacapan, Jr. led the deal, with assistance from associate Tanner Long. The seed round closed on December 30, 2021 and the merger closed on December 31, 2021.

“We are thrilled to help launch RocaNews’ next stage,” said Fitts. “Enabling emerging technology companies to thrive excites us as lawyers, and gives us the opportunity to put interdisciplinary skills like corporate, tax, and benefits to work for great clients.”

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