With new funding, the enterprise-level system will advance the interoperability and integrity of its components
Authtrail, a novel data management solution that utilizes an API connection to index and store data on Polkadot-based Moonbeam, has successfully closed its strategic funding round.
Authtrail gets $ 3.6 million from top VCs
According to the official announcement shared by the Slovenian Authtrail team, it has concluded its strategic round table. A total of $ 3,600,000 was raised from a group of leading venture capitalists and angel investors.
The newly raised funds will fuel the next stages of the product’s growth in terms of technical development and marketing promotion. By Q4, 2021, the platform has 6,000 employees in different departments across 30 countries.
Authtrail CEO Matjaz Sobocan is confident investor funds will be used for critical use cases in the Web3 economy:
Backed by several Angels and multiple VCs, Authtrail will help companies leverage higher quality data, equipped with integrity, as they implement blockchain technology into daily operations seamlessly and at a low cost.
Authtrail leverages Polkadot’s instrument to create enterprise-grade data systems: it gathers data, compiles it through a patented API, and pushes it to Polkadot’s Moonbeam in hashed form.
Supercharging real-world economy with Moonbeam
Derek Yoo, CEO of PureStake and founder of the Moonbeam project, is fascinated by the prospects and vision demonstrated by the new project in Moonbeam’s ecosystem:
Authtrail is a great example of using open Web3 technologies to solve real world problems for regular users. We are delighted to support the Authtrail team in bringing Moonbeam as a solution to the challenges of corporate environments.
Besides building its own product, the Authtrail team is going to support promising early-stage developers.
Its upcoming Authtrail LaunchHub is expected to kick-start the ecosystem of blockchain-based data management platforms for businesses.
