Fluree, a Winston-Salem, N.C.-based secure data management company, closed its seed round of $6.5m in venture capital funding.
The round was led by 4490 Ventures with participation from Rise of the Rest, Good Growth Capital, Engage Ventures and former Venrock Managing Partner Ray Rothrock.
The funding will be used to accelerate product development efforts for building applications that utilize W3C verifiable credentials and decentralized identifiers (DID).
Founded in 2016 by Brian Platz and Flip Filipowski, Fluree PBC is a Public Benefit Corporation operating an enterprise data management platform that guarantees data integrity, facilitates secure data sharing, and powers data-driven insights. The platform organizes blockchain-secured data in a scalable semantic graph database – establishing a foundational layer of trusted data for connected and intelligent data ecosystems.
Fluree is a pluggable stack that developers need to build enterprise-grade Web 3.0 applications with cryptographically-secure data integrity. It is available on all leading cloud providers, including Amazon AWS, Google Cloud Platform and Microsoft Azure. Organizations in sectors including education, supply chain and healthcare are employing the platform to build secure blockchain applications that fix some of the Internet’s biggest problems.