Lucidity, a Los Angeles, CA-based digital advertising blockchain protocol, closed an over $5m strategic funding round.
Backers included 3Rodeo, CoinUs, Cypher Group, YouBi Capital, and Pithia, a venture capital firm part of the RChain ecosystem.
The company intends to use the funds to expand its team, continue to develop its Layer 2 technology, and to create a multi- and cross- chain solution capable of supporting Ethereum, RChain and others.
Led by CEO Sam Kim, Lucidity is a digital advertising blockchain protocol bringing transparency to digital advertising for advertisers and publishers to mitigate fraud, transact with trust, and maximize ROI. Its Layer 2 technology is a scalable, sidechain infrastructure to handle the high processing speeds and privacy requirements of programmatic advertising.
The company has already secured a variety of customers and pilot partners including GameStop, Viamedia, The Richards Group, Giant Spoon, etc.