Enterprise blockchain provider BlockApps raises $41 million

Quick Take

  • BlockApps, founded in 2015, has raised $41 million in a round led by Liberty City Ventures.
  • Enterprise blockchains suffered a slow growth a few years ago, losing buzz around what is possible with the technology.

BlockApps, an enterprise blockchain provider, has raised $41 million in funding to grow its development team and accelerate its go-to-market strategy, the company announced today.

The funding was led by Liberty City Ventures, with new participating investors including Morgan Creek Digital, Eidetic Ventures, and Givic. Existing investors ConsenSys, Bloccelerate, Fitz Gate Ventures, Arab Angels, Kenetic Capital, and PropelX also participated.

BlockApps will also be using the funding to “expand its partner program and bring in more real assets to STRATO, the company’s industry-leading enterprise blockchain,” said a statement from the company.

An enterprise blockchain works similarly to other networks of this type,  except for how the visibility of that data can be restricted to a select number of people, offering participants more privacy than a public network like Bitcoin or Ethereum. These blockchains can be used in an effort to streamline processes like tracking supply chains.

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