Align Commerce closes $12.5 million series A round funding

Investing | November 18, 2015 By:

Align Commerce announced that it has closed a $12.5 million series A round of funding led by Kleiner Perkins.

“We were looking for applications of the blockchain for the last couple of years in ways that could build real businesses and add real value that weren’t at the mercy of the currency valuation which will move up and down and all over the place. And of those blockchain companies, we invested in Align, because we believe it’s a market that’s underserved, with a CEO who understood it well and early traction from customers who reinforced that value,” said KPCB general partner Randy Komisar.

Komisar added that a company like Align can help small businesses compete globally. “If you’re going to grease the wheels of commerce and data exchange in this anonymous global world, we need a substitute for trust. And the blockchain is an incredibly powerful substitute for trust, because you can trust the ledger.

Align Commerce is the first in its space to combine three payment rails together and create a Multi-Rail payment system.