Atlanta attorney Mike Siavage advised Brightree LLC on obtaining a venture capital investment from Battery Ventures of Massachusetts. Brightree and Battery Ventures did not disclose the size of the investment.
Siavage, whose three-man firm is called Siavage Law Group, said he’s been outside counsel to Brightree
since the company was formed in 2001. Siavage advised Brightree on corporate and intellectual property aspects of the transaction with Battery Ventures.
Siavage said he hasn’t seen a slowdown in venture-capital transactions, in spite of general economic weakness.
“We’re kind of recession-proof,” Siavage said.
Brightree, headquartered in Duluth, makes software used by companies in several healthcare-related industries, including home medical equipment, and orthotics and prosthetics. Its software is used in inventory management and claims processing. Brightree said in a press release that it’s the second-largest filer of Medicare claims in the U.S. Some of Brightree’s customers include of Extrakare LLC of Norcross and MaxCare Bionics of Indianapolis.
Battery Ventures, of Waltham, Mass., specializes in making investments in upstart technology companies. Its investment portfolio has included Akamai Technologies, Cbeyond, Focal Communications and others. Cooley Godward Kronish advised Battery Ventures on its investment in Brightree.