Hedera Hashgraph, a Dallas, TX–based next-generation distributed public ledger organization, raised $100m in funding.
Institutional and high net worth individual investors participated in the round. The list includes BlockTower Capital.
The company intends to use the funds to further the development and use of the Hedera public distributed ledger platform and network.
Led by Mance Harmon, co-founder and CEO, Dr. Leemon Baird, co-founder and Chief Scientist Officer, and Tom Trowbridge, President, Hedera provides a hashgraph platform that will offer a distributed public ledger enabling anyone to develop globally decentralized applications. The company plans to launch the network and start giving early access to some partners within the next month, with numerous distributed applications already being developed for the platform.
Commenting on the announcement, Harmon said:
“With this funding, we will be able to accelerate development of key services to be provided by Hedera – including a cryptocurrency, file storage service, and smart contract platform – to help make it not only what we believe is the fastest and most secure public ledger available, but also the most feature-rich for developers looking to build highly decentralized apps.”
Hedera also announced it will be conducting an accredited investor crowdsale, targeted at raising $20m with the accredited investor verification process opening today closing when the target is reached, or August 15th, whichever comes earlier.