Bitcoin-based browser Brave Software raises $4.5M in seed funding

Investing | August 4, 2016 By:

Brave Software announced it has raised $4.5 million in seed funding.

Participating in the round were Founders Fund’s FF Angel, Propel Venture Partners, Pantera Capital, Foundation Capital, and Digital Currency Group. This round of funding will be allocated towards platform development and growth, bringing the total amount of funding to date to $7 million with previous angel funding from private investors.

“We are proud to partner with Brave. We believe in their mission to fix the browsing experience and are excited Brave is using the blockchain to better support publishers and pay users,” said Jay Reinemann, Partner at Propel Venture Partners.

Led by Brendan Eich and Brian Bondy, Brave is a new open source browser for desktop and mobile that blocks invasive ads and online trackers, reduces page loading time, and guards from ads infected with malware. It protects users with privacy and security features such as HTTPS Everywhere (encrypted data traffic), fingerprinting shields, phishing protection, malware filtering, and script blocking.

The company is partnering with BitGo and Coinbase to provide wallets and purchasing tools for the Brave Ledger, a new Bitcoin-based micropayments system that automatically and anonymously pays users’ favorite websites. It will allow users and publishers to opt into a privacy-preserving ad model that shares revenue with users as well as publishers.