Funds for Secure Data Platform Fluree PBC

In the US, secure data management platform Fluree PBC has raised $6.5m in a seed round of funding, which it will use to accelerate product development efforts for building applications that use W3C verifiable credentials and decentralized identifiers (DID).

Founded in 2016 by Brian Platz and Flip Filipowski and headquartered in Winston-Salem, North Carolina, Fluree PBC is an enterprise data management platform that claims to guarantee data integrity, facilitate secure data sharing, and power data-driven insights. The firm's semantic graph data platform unlocks data from organizational silos, and uses a blockchain approach to break a database up into different parts, each having its own chain and associated network. In addition, the firm is a Public Benefit Corporation (PBC) that dedicates employee time, company resources and effort towards helping people whose jobs are replaced by technology, or those that wish to make a career adjustment through training and assistance.

New funding has been led by 4490 Ventures, with participation by Rise of the Rest, Good Growth Capital, Engage Ventures and former Venrock Managing Partner Ray Rothrock. Platz comments: 'We couldn't ask for a better group of investors to bolster our platform during a time of rapid blockchain innovation. As data-centric security, verifiable credentials and secure data sharing become the cornerstones of Web 3.0, Fluree and our trusted investors are becoming key players in the Internet of tomorrow'.

Web site: www.flur.ee .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.