Bitcoin Blockchain Startup Factom Raises $4.2 Million in Equity Funding
Factom, a startup that developers solutions that leverages the bitcoin blockchain has raised $4.2 million in a new round of funding led by Tim Draper of Draper Associates. Factom Inc., a blockchain technology company that has previously revealed major projects such as creating land titles via the bitcoin blockchain in Honduras, has announced a Series A round of equity funding for $4.2 million. Led by Tim Draper of Draper Associates, the funding round will further help in bringing in new personnel and in the development of Factom software that leverages the bitcoin blockchain for real-world....
Related News
Factom has received $1.1m in new funding as part of an equity crowdsale hosted by crowdfunding service BnkToTheFuture. Billed as a data and record keeping layer for bitcoin, Factom had offered 7.8% equity toward a $700,000 minimum investment goal to be reached by 9:39am GMT today. The project ultimately exceeded this goal, drawing 323 investors; each providing an average contribution of roughly $3,400. Factom Foundation chairman David Johnston credited the positive perception of the company as a key factor in the raise, telling CoinDesk: "The community has been very supportive of Factom....
Decentralized record-keeping startup Factom Inc. has raised over $1 million ahead of the closure of its first funding round on 22nd July tomorrow. The funds have been raised through a crowdsale on BnkToTheFuture.com, a FinTech-based global online investment platform which has reportedly attracted over 300 investors to the Texan data storage company. Originally, Factom had planned to attract a minimum of $642,000 by July 22nd. But soon upon hitting its expected figures, the company's chairman, Mr. David A. Johnston, decided to continue into "over funding". "During the "over funding" period....
Blockchain startup Factom has raised $4.2m in new funding to build a series of unnamed new products for its blockchain data network. The Austin, Texas-based company that lets users verify data using its Factom blockchain, fresh off winning a $200,000 grant from the US Department of Homeland Securities, now plans to scale with a series of hires to be announced over the coming months. Factom co-founder and CEO Peter Kirby said the Series A round, led by venture capitalist Tim Draper, will also be used to further develop its core technology and suite of products. Kirby told CoinDesk: "We....
Blockchain startup Factom has secured yet another significant funding round from prominent Silicon Valley investors to grow its talent pool and exploit the potential of technology. The $4.2 mln funding round led by billionaire investor Tim Draper of Draper Associates will be allocated in “aggressively growing the company,” allowing its development team to discover a wider range of business problems that can be solved with the greater transparency and security measures of a Blockchain network. “We started Factom to build a more honest and transparent world using a pretty simple approach:....
Factom Inc, the for-profit entity seeking to facilitate commercial business conducted on blockchain recordkeeping project Factom, has raised $400,000 in new seed funding. The investment was provided by Kuala Innovations, which purchased a 3.64% stake in the company for 400,000 Seed Series Shares at $1 per share. According to a statement by Kuala, the investment gives Factom Inc a pre-money valuation of $11m. In statements, Kuala co-chairman Jim Mellon stated that he believes Factom has the potential to "revolutionize" how companies process and store data, thereby solving "real commercial....