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MoFo Advises GC AI on $60 Million Series B Funding Round

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Morrison Foerster advised GC AI, the AI platform for in-house legal teams, on its $60 million Series B funding round. The round...

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Morrison Foerster advised GC AI, the AI platform for in-house legal teams, on its $60 million Series B funding round. The round values the company at $555 million and was led by Scale Venture Partners and Northzone, with participation from Sound Ventures, Aglaé Ventures, SilverCircle, News Corp and The Council.GC AI is the legal AI platform built for in-house teams that solves the workflows in-house lawyers and legal professionals face every day. More than 900 companies now use GC AI to move faster and work smarter across their legal teams, including News Corp, Nextdoor, Skims, Liquid Death, Vercel, TIME Inc., and Zscaler. The platform delivers instant expertise for everything in-house legal touches: contracts, policies, compliance, regulatory, and employment law.The MoFo team advising General Counsel AI was led by emerging companies + venture capital partner Michael Glaser, technology transactions partner Tessa Schwartz, and associates Jason Kitchen and Sean Ross.Read GC AI's <a href="https://www.businesswire.com/news/home/20251107988263/en/GC-AI-Raises-%2460-Million-Series-B-to-Give-Every-Company-a-Legal-Advantage" target="_blank">press release</a>.

MoFo Advises GC AI on $60 Million Series B Funding Round

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Michael Glaser is a partner in the San Francisco office of Morrison Foerster and is co-chair of the firm’s Emerging Companies + Venture Capital Group.Described as “one of the finest venture capital lawyers I have ever worked with” by a client in Chambers USA, Michael offers more than two decades of experience advising innovative startup and investor clients. Michael represents startups from formation through exit in multiple industries, including consumer e-commerce, interactive entertainment, digital media, consumer products, sharing economy, cloud services, on-prem software, fintech, and digital health sectors.Michael has represented startups in hundreds of venture capital transactions, with pre-money valuations ranging from millions to billions of dollars. Michael’s clients have been funded by top tier venture capital firms, such as Sequoia Capital, Greylock, Benchmark, Accel, Andreessen Horowitz, Kleiner Perkins, and Khosla Ventures. Michael also represents his startup clients in M&A deals, and has advised companies in numerous high-value exit transactions with leading serial acquirers.Michael is an industry thought-leader and has served on the Model Document Working Group for the National Venture Capital Association (NVCA), the Corporate Committee of the Business Law Section of the State Bar of California, and the ABA Working Group on Legal Opinions. Michael also has significant business management experience. Prior to joining Morrison & Foerster, he co-chaired another international law firm’s largest practice group, with ten subgroups, over 300 lawyers, and a P&L in the hundreds of millions.<h4>Selected Exit Transactions</h4><ul><li>Represented AddLive in its sale to Snap (NYSE: SNAP).</li><li>Represented Applifier in its sale to Unity Technologies (NYSE: U).</li><li>Represented Candywriter in its sale to Stillfront Group.</li><li>Represented Cloudup in its sale to Automattic.</li><li>Represented CourseRank in a merger with Chegg (NYSE: CHGG).</li><li>Represented Freeverse Inc. in its sale to ngmco.</li><li>Represented GlobalMotion Media Inc. (publisher of EveryTrail.com) in its sale to Trip Advisor (Nasdaq: TRIP).</li><li>Represented Hackpad in its sale to Dropbox (Nasdaq: DBX).</li><li>Represented Jambool in a merger transaction with Google Inc. (Nasdaq: GOOG).</li><li>Represented Liquid Audio (Nasdaq:LQID) in its sale of technology assets to Microsoft (Nasdaq:MSFT).</li><li>Represented PullString in its sale to Apple (Nasdaq: AAPL).</li><li>Represented Rupture.com in an acquisition by Electronic Arts (Nasdaq: ERTS).</li><li>Represented Snapcentric in its sale to Verisign (Nasdaq:VRSN).</li><li>Represented TenMarks in its sale to Amazon (Nasdaq: AMZN).</li><li>Represented Wondery in its sale to Amazon (Nasdaq: AMZN).</li></ul>

Michael Glaser

Co-Chair of Emerging Companies + Venture Capital Practice

Tessa Schwartz has an active practice counseling companies on intellectual property issues, and negotiating complex intellectual property and commercial agreements. She advises on a range of strategic transactions, including key patent licenses and acquisitions, technology procurement agreements, and complex development, collaboration, joint-venture and distribution deals. Tessa also regularly advises companies on the IP aspects of their M&A transactions.In addition to maintaining an active practice and working with clients on a daily basis, Tessa is founder and co-chair of the firm’s Artificial Intelligence Group and previously served as co-chair of the global Transactions Department. Tessa advises clients primarily in technology and data intensive sectors, representing artificial intelligence (AI), robotics, machine learning, software, SaaS, cloud computing, hardware, consumer electronics and products, social media, Internet, mobility and wireless, space and satellites, e-commerce, advertising, healthcare, fintech, transportation, semiconductor, and other companies. Tessa’s M&A experience includes advising Autodesk, BlackBerry, Fortive, Honeywell, Salesforce, Uber, Unilever, Unity, Walmart, and others on the IP aspects of strategic transactions. Tessa provides clients with prelitigation and litigation advice. She frequently advises executives and senior management on strategic business, legal and commercial issues, including the structuring of transactions, risk management and contract compliance. She also counsels clients with respect to a wide variety of IP issues, including patent exhaustion and implied licenses, standing and standards, the protection of data and other trade secrets and the development and distribution of open-source software.In addition to her transactional expertise, Tessa’s litigation background includes representing clients in arbitration, as well as in state and federal courts in such areas as antitrust, false advertising, unfair competition, breach of contract, securities, trademark, copyright and trade secret law. Her litigation experience includes complex, multidistrict and class action litigation, as well as appellate advocacy.Tessa has been ranked in Chambers and Legal 500, with clients describing her as, “one of the best attorneys I've ever worked with.” Tessa has been recognized by Chambers USA 2022 as being highly experienced in the field of technology and intellectual property transactions. Clients have commented on Tessa as having "...the ability to translate complex topics into what's necessary to get a deal done. She does a good job of making our technology accessible”. Further, Tessa "ticks all of the essential boxes, timely, efficient, knowledgeable and helpful, but she really stands out by taking time to learn our business and our products so she can give practical and actionable advice. Tessa helps us focus on key issues and balance risks to make choices."Tessa’s pro bono efforts have included work for The Biomimicry Institute, Goodwill, Common Sense Media, Business for Social Responsibility, The World Wildlife Fund, Build Change and the Sustainability Accounting Standards Board (SASB). She also provides IP advice to a variety of cultural, media and arts organizations; and other assistance for nonprofits. She recently received the Wiley W. Manuel Award for Pro Bono Legal Services from the State Bar of California.Tessa received her B.A. magna cum laude from Harvard College in 1991. In 1996, she earned her J.D. from the University of California at Los Angeles, where she was elected to the Order of the Coif.Tessa served as global managing partner of Morrison Foerster from 2016 to 2022 and previously served as co-chair of the firm’s Technology Transactions Group.

Tessa Schwartz

Partner

Jason Kitchen is an associate in the New York office and is a member of the firm’s Emerging Companies + Venture Capital practice group.Jason represents venture capital funds and venture-backed companies in all stages of the corporate lifecycle, including formations, financings, equity considerations, mergers and acquisitions, and a variety of other activities.Jason served as an intern to Judge Jane Boyle of the US District Court for the Northern District of Texas.

Jason Kitchen

Associate

Sean Ross is a Corporate associate in Morrison Foerster’s Denver office.Sean’s practice is dedicated to supporting emerging companies, startups and venture capital investors, with a special focus on CPG-related startups and investors.Before joining Morrison Foerster, Sean served as a judicial intern for the Colorado Supreme Court, where he researched and wrote certiorari memoranda, and as a legal intern for the Arizona Coyotes, formerly of the National Hockey League. He also participated in Morrison Foerster’s summer associate program.Sean earned his J.D. from the University of Pennsylvania Carey Law School, where he was a board member of the Entertainment & Sports Law Society. Sean played varsity ice hockey at Wesleyan University, where he received his B.A. in government, economics, and data analysis.

Sean Ross

Artificial Intelligence (AI)

Technology

Emerging Companies + Venture Capital