Armory Technologies, Inc., a Baltimore-based developer of Bitcoin wallet software, completed a $600k seed funding.
Backers included Trace Mayer, Kevin Bombino and Jim Smith.
The company intends to use the funds to develop the Armory Bitcoin wallet.
Founded by lead developer Alan Reiner, Armory Technologies is building a Bitcoin wallet application to store and transact Bitcoin funds. The private keys are stored only on a computer that is kept entirely offline and supports backing up Bitcoin funds to a printed paper backup.
The company will soon release a new version that will include support for hardware wallets and multi-signature transactions.
Trace Mayer is an entrepreneur, investor, journalist, monetary scientist and ardent defender of the freedom of speech with degrees in Law and Accounting. He has studied Austrian Economics focusing on the work of Murray Rothbard and Ludwig von Mises and operates the privacy blog How To Vanish (http://www.howtovanish.com).
Kevin Bombino is a technologist, entrepreneur and investor with a degree in Computer Science from Harvard. He’s been a Bitcoin miner and Armory user since 2011 and runs a technology incubator in Las Vegas.
James Smith earned degrees from Harvard and Wharton, practiced as a CPA, and worked in several financial and lending capacities including commercial real estate at Texas Federal Savings. He later operated as a private investor in the public securities market and joined Weber Hall Sale and Associates in October 1987. In 1991, he went on to manage funds for Bedrock Capital, L.P. and its predecessors.