New Vector, the London, UK and Rennes, France-based company behind Matrix.org, an open standard for secure and decentralized communication, raised $5M in funding.
Status.im, an open source mobile platform that serves as a gateway to decentralized apps (DApps) and services built on Ethereum, made the investment.
The company will use the funds to focus on progressing the Matrix standard further and continue to grow the flagship app Riot.im into a mass-market ready secure open source communication platform.
Led by Matthew Hodgson, Co-Founder and CEO, New Vector provides Riot.im, a secure, interoperable, open source real-time messaging product, and Modular, an app store for Matrix.
The company’s application is built on an open standard to make real-time communication private, freeing users from closed systems, allowing them to decide who should host their data, and removing the friction of switching between apps. People can control communications from start to finish, collaborating on projects across different communication apps and third party tools all in one workspace.
Matrix allows a network of options to external networks, including Slack, IRC, Twitter, Gitter, and more.
Status migrated its community from Slack to Riot.im last year.