Data Management Platform Fluree concludes its Seed Funding round

Fluree, a market leader in secure data management, closes seed funding round to power secure data management in the Web 3.0 era.

By · Oct 1, 2020 . 6min read

Fluree Seed Funding round latest news
Source : IStock

Fluree, a data management platform, declared the conclusion of its seed round in venture capital funding. Fluree raises $6.5 million in the seed round led by 4490 Ventures. Additional investors in the round constitute Rise of the Rest, Good Growth Capital, Engage Ventures, and former Venrock Managing Partner Ray Rothrock. 4490 Ventures, led by Greg Robinson and Dan Malven, makes investments between $5 million and $10 million over multiple rounds for portfolio companies. Moreover, the fund’s portfolio also includes Wisconsin tech startups Understory, Abodo, HealthMyne, Avid Ratings, and Eat Street.

The funding will stimulate product development endeavours for developing applications that employ Web 3.0 verifiable credentials and decentralized identifiers (DID). The company has experienced substantial growth since the beginning of 2020, adding marquee customers such as the United States Air Force and Wake Forest Health.

Fluree has Huge Potential and Global Reach.

Established in 2016 by Brian Platz and Flip Filipowski, Fluree is a Public Benefit Corporation managing an enterprise data management platform that ensures data integrity, promotes secure data sharing, and powers data-driven insights. The platform combines blockchain-secured data in a scalable semantic graph database. Thus, building a foundational layer of trusted data for pertinent and intelligent data ecosystems.

Data Management platform, Fluree is a pluggable stack. Developers require it to create enterprise-grade Web 3.0 applications with cryptographically-secure data integrity. It is accessible on all leading cloud providers, including Amazon AWS, Google Cloud Platform, and Microsoft Azure. Organizations in sectors, including education, supply chain, and healthcare, are using the platform. Moreover, it intends to develop secure blockchain applications that fix some of the Internet’s biggest problems.

However, earlier this year, the company won a contract to provide technology to the U.S. Department of Defense and the U.S. Air Force with its secure databases and computer systems not originally intended to interact with one another to do so. Moreover, Fluree has entered into a contract to present the federal government with its technology. Conclusively, Fluree has global reach and appeal. Additionally, the appeal and the technology is so powerful that the U.S. government came tapping for it.

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