Blockchain Voting Platform Voatz Raises $2.2M USD in Seed Fundingbr>
Mobile election voting platform Voatz has raised over $2.2 million in a seed funding round led by Medici Ventures, the wholly-owned subsidiary of Overstock.com.
The round also saw participation from other investors, including Urban Innovation Fund, Oakhouse Partners, and members of the Walnut Ventures angels group.
The company said the funds will be used to build out its business development team, expand its reach across the US, and accelerate the development of several new product features.
Based in Boston, Voatz uses biometrics for security and blockchain technology to ensure tamper-proof record-keeping, identity verification, and auditing. The platform enables people to vote in many different types of elections and voting events via a secured smartphone or tablet, while at the same time overcoming concerns around security, auditing, and voter anonymity. The company claimed that the platform has been used by more than 70,000 voters in various elections and voting events in multiple jurisdictions.
Voatz is now in the process of deploying its technology for town meeting voting in Massachusetts. The company said the platform is currently accessible by invitation-only, and will be accessible to a wider audience in the coming weeks.
“The Voatz team has developed a leading solution to usher in an era of greater efficiency and transparency in voting,” said Medici Ventures President Jonathan Johnson. “Democracy will benefit greatly from critical improvements blockchain technology can bring to voting systems. For example, providing secure, immutable record keeping will bring greater confidence in accurate results, and ease of use will lower the barrier to entry for citizens to participate in elections. We look forward to partnering with the Voatz team to improve this critical function of society.”
“We’re excited to support Voatz in its mission to dramatically increase voting access and security,” said Julie Lein, Managing Partner of the Urban Innovation Fund. “Voatz tackles two of the core challenges in voting — low participation in local elections and the need for better citizen engagement. Its mobile-first solution is poised to be a category leader, democratizing voting across government, corporate, academic, and union elections.”