StrongBlock Closes $4M Seed Round from Pangea Blockchain Fund and Magnetic Capital to Launch Breakthrough Enterprise Blockchain Technology
GEORGE TOWN, Cayman Islands--(BUSINESS WIRE)--Mar 6, 2019--StrongBlock ( www.strongblock.io ), a Magnetic Capital incubated startup founded by four former technology executives from EOSIO-creator Block.one, today announced it has secured US $4M. The raise will support the company’s plans to be the blockchain standard for enterprises, financial institutions, and governments. The seed round was led by Pangea Blockchain Fund and its limited partners including Copernicus Asset Management SA (“Copernicus”).
Unlike most enterprise blockchain projects to date that have failed due to inadequate blockchain protocols and inexperienced executives, StrongBlock’s founders, David Moss (Oracle, Edmunds.com), Thomas Cox (Oracle, IBM), Corey Lederer (Nike, Accenture), and Brian Abramson (Content.ad), have proven track records of delivering technological transformations to large multinational corporations.
In addition, StrongBlock’s breakthrough blockchain technology bridges the gap between the technological needs of enterprises and the current state of blockchain protocols. By providing turnkey implementation, service level guarantees, ongoing client support and consulting services, StrongBlock helps ensure that enterprises can securely integrate blockchain solutions with legacy systems without wasting both time and money attempting to build proprietary infrastructures.
“Before Red Hat, Linux was nearly impossible for enterprises to put into production. Now Red Hat is the Enterprise Linux standard,” said David Moss, StrongBlock Founder/CEO and former SVP at Block.one. “If there was a way to push a button and get an Enterprise-ready blockchain, you’d move further, faster. StrongBlock does that. We make blockchain easy.”
“Enterprises already know they have certain problems that only blockchain can solve, notably in supply chain, product provenance, healthcare, and finance,” said Moss. “With StrongBlock, businesses can actually implement solutions.”
StrongBlock is leveraging EOSIO, a next-generation, open-source blockchain protocol that provides a combination of superior performance and features demanded by today’s global businesses, like account management, security, and governance.
“We chose StrongBlock as Pangea’s first investment, as it aligns with our investment approach: utilizing blockchain technology to change underlying systems that power the things we do every day,” said James Duplessie, co-founder of Blockchain Investment Advisory Sagl, Pangea Blockchain Fund’s Swiss-based investment adviser. “StrongBlock’s seasoned management team’s deep technical expertise will allow the company to not only lead the market but define it.”
Echoing Mr. Duplessie’s sentiment, Maggie Rokkum-Testi, CIO of Copernicus, said, “StrongBlock’s technology will enable blockchains to become ubiquitous, fueling massive business transformations ranging from energy and public utilities to retail and healthcare. The possibilities are virtually endless and can be implemented in every industry, delivering the potential of blockchain technology to the masses in a real, profound way.”
StrongBlock’s mission is to empower enterprises to focus resources on using blockchain to solve business problems. StrongBlock founders, David Moss, Thomas Cox, Corey Lederer, and Brian Abramson , led the successful build of EOSIO as early technology executives at Block.one. For more information, please visit www.strongblock.io.
About Pangea Blockchain Fund
Pangea Blockchain Fund focuses on offering intellectual and financial capital to exceptional early-stage blockchain companies from around the world. It invests in entrepreneurs committed to building blockchain solutions that disrupt or transform the status quo. For more information, please visit www.PangeaBlockchain.Fund.
About Magnetic Capital
Magnetic Capital is an asset management firm focused on distributed ledger technology, digital and tokenized assets. It combines a highly experienced team using a non-consensus outlook in digital asset trading, insights obtained from day-to-day technical and operational experience, and over a decade of venture incubating and investing. For more information, please visit www.magnetic.capital.
Founded in December 2016, Copernicus Holding is an independent, financial services group based in Lugano, Switzerland that is majority owned by its founding partners. Copernicus Asset Management is a Swiss Authorized Asset Manager (CISA/LiCol license). For more information, please visit www.copernicus-am.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190306005691/en/
CONTACT: Media Contact:
KEYWORD: CARIBBEAN CAYMAN ISLANDS
INDUSTRY KEYWORD: TECHNOLOGY INTERNET SOFTWARE PROFESSIONAL SERVICES FINANCE
Copyright Business Wire 2019.
PUB: 03/06/2019 01:39 PM/DISC: 03/06/2019 01:39 PM