Cambridge Blockchain, LLC, a Cambridge, MA-based digital identity enterprise software for financial institutions, recently closed a $2m convertible note.
Backers included Partech Ventures and Digital Currency Group.
The company intends to use the funds to accelerate deployments of its software.
Led by Matthew Commons, CEO, Cambridge Blockchain provides financial institutions with digital identity enterprise software which leverages a distributed architecture to solve the challenges of transparency and privacy, resulting in customer onboarding, lower costs, and enhanced compliance through a single and consistent view of customer reference data.
The company is currently developing its digital identity software with several leading global financial institutions, with commercial deployments planned for late 2017.