SAN FRANCISCO (December 10, 2025) - Perkins Coie is pleased to have advised fal, the real-time generative-media platform powering the next decade of AI-driven content, on a $140 million Series D financing led by Sequoia, with significant participation from Kleiner Perkins and new investment from NVentures, NVIDIA’s venture capital arm.
The $140 million funding round also includes continued support from existing investors Andreessen Horowitz (a16z), Kindred Ventures, Meritech, Bessemer Venture Partners, Notable Capital, Shopify Ventures, Salesforce Ventures, and others.
The financing follows fal’s $125 million Series C announced in July. At that time, the company had more than tripled its revenue since 2024 and surpassed more than two million developers using its platform. Additional information on fal’s Series D financing is available here.
The Perkins Coie Emerging Companies & Venture Capital (ECVC) advisory team included partner Paul Navarro, counsel Elizabeth Omidian, and associates Oscar Corpus, and Marissa Madrazo. Perkins Coie previously advised fal on its successful Series A, B, and C funding rounds.
From incorporation to exit, Perkins Coie helps clients build great companies. Lawyers in our ECVC practice span the country, supporting the most innovative entrepreneurs and investors in all key technology-driven markets. Our ECVC lawyers have managed thousands of venture capital and private equity financings from pre-seed to growth equity, assisting clients in raising billions of dollars annually. They provide end-to-end legal and business counseling to the leading-edge companies of tomorrow in industries like artificial intelligence, cyber-security, fintech and blockchain, digital media and gaming, deep tech, defense tech, healthcare, biotech, consumer products, and everything in between.
