Factom raises $4.2m in Series A funding

Investing | October 13, 2016 By:

Factom announced today it has secured a Series A equity funding round worth $4.2 million led by Tim Draper of Draper Associates.

Other participants in the round include Fenbushi Corporation from China, Plug and Play, BnkToTheFuture, Propertyinfo Corporation, Star Vista Capital, LLC, CashBUS, as well as angel investors Kevin Spiers and Darla Spiers, Hillary Ryan, Leon Fu, among others.

Factom co-founder and CEO Peter Kirby said the Series A round will also be used to further develop its core technology and suite of products.

“We are delighted to have venture capitalists of such calibre help us build Factom,” Kirby said. “This round of funding allows us to aggressively grow the company and the underlying technology. We started Factom to build a more honest and transparent world using a pretty simple approach: create software that makes it impossible to change the past and point that software at places where it solves valuable business problems. This funding accelerates our progress down that road,” said Kirby.

Factom is an Austin-based blockchain technology company.