BlockApps, an enterprise blockchain platform provider, has raised its Series A funding round led by Fitz Gate Ventures with participation from Elliptic Curve Ventures, Bloccelerate, Fenbushi Capital, Galaxy Digital Ventures and a follow-on investment from ConsenSys.
As one of the pioneering ventures in enterprise-grade blockchain technology, BlockApps helps industries build blockchain-based business networks, which are more secure, reliable and flexible than existing solutions. Working with Fortune 500 companies including Bayer, BHP Billiton, John Hancock, and United Airlines, BlockApps has launched networks in the healthcare, energy, agriculture and travel industries. This round of funding will be used to fuel their growth in these sectors, as well as expand to other verticals.
“We are extremely excited to be working with this exceptional group of investors. We have a healthy mix of traditional venture capital players along with some of the best blockchain focused firms participating. Leveraging their expertise will help us achieve our vision for secure, scalable blockchain business networks and accelerate our mission of restoring trust, reliability and efficiency to online transactions,” says BlockApps CEO, Kieren James Lubin.
Today, hundreds of businesses ranging from Fortune 500 companies to startups use BlockApps STRATO – the first Blockchain-as-a-Service (BaaS) platform – to run self-owned, extensible business networks that serve as the transactional and collaboration backbone for end-to-end business processes while enhancing security, performance, trust and transparency in the business value chain.
STRATO is built on proven Ethereum protocols and provides core enterprise features including flexible API integration capabilities, high transaction performance, and the capability to query and report on blockchain data using traditional business tools.
BlockApps now also benefits from the expertise of the investor group in building scalable blockchain businesses and effective go-to-market strategies for technology companies.
“BlockApps’ exceptional leadership team including CEO Kieren James Lubin has a strong vision for permissioned industry networks enhanced by enterprise-grade blockchain technology. We are excited by the traction and adoption of their flagship STRATO platform by large enterprises and have confidence that the market will continue to validate their new approach to business networks,” says Fitz Gate Ventures Managing Director, Mark Poag.
“BlockApps’ vision and STRATO product align perfectly with our investment thesis; disintermediation to create lower costs, greater security, and more robust transaction systems. We are encouraged by the scalability and robustness of their platform and view it as a clear long-term winner in the enterprise blockchain space,” says Elliptic Curve Ventures Managing Director Matt Stack.