StrongBlock, a Magnetic Capital incubated startup founded by four former technology executives from EOSIO-creator Block.one, has secured USD4 million in a seed funding round led byPangea Blockchain Fund and its limited partners including Copernicus Asset Management SA (Copernicus).
The raise will support the company’s plans to be the blockchain standard for enterprises, financial institutions, and governments. The seed round was led by Pangea Blockchain Fund and its limited partners including Copernicus Asset Management SA (Copernicus).
Unlike most enterprise blockchain projects to date that have failed due to inadequate blockchain protocols and inexperienced executives. StrongBlock’s founders, David Moss (Oracle, Edmunds.com), Thomas Cox (Oracle, IBM), Corey Lederer (Nike, Accenture), and Brian Abramson (Content.ad), have proven track records of delivering technological transformations to large multinational corporations.
In addition, StrongBlock’s breakthrough blockchain technology bridges the gap between the technological needs of enterprises and the current state of blockchain protocols. By providing turnkey implementation, service level guarantees, ongoing client support and consulting services, StrongBlock helps ensure that enterprises can securely integrate blockchain solutions with legacy systems without wasting both time and money attempting to build proprietary infrastructures.
“Before Red Hat, Linux was nearly impossible for enterprises to put into production. Now Red Hat is the Enterprise Linux standard,” says David Moss, StrongBlock Founder/CEO and former SVP at Block.one. “If there was a way to push a button and get an Enterprise-ready blockchain, you’d move further, faster. StrongBlock does that. We make blockchain easy.”
“Enterprises already know they have certain problems that only blockchain can solve, notably in supply chain, product provenance, healthcare, and finance,” says Moss. “With StrongBlock, businesses can actually implement solutions.”
StrongBlock is leveraging EOSIO, a next-generation, open-source blockchain protocol that provides a combination of superior performance and features demanded by today’s global businesses, like account management, security, and governance.
“We chose StrongBlock as Pangea’s first investment, as it aligns with our investment approach: utilising blockchain technology to change underlying systems that power the things we do every day,” says James Duplessie, co-founder of Blockchain Investment Advisory Sagl, Pangea Blockchain Fund’s Swiss-based investment adviser. “StrongBlock’s seasoned management team’s deep technical expertise will allow the company to not only lead the market but define it.”
Echoing Duplessie’s sentiment, Maggie Rokkum-Testi, CIO of Copernicus, says: “StrongBlock’s technology will enable blockchains to become ubiquitous, fuelling massive business transformations ranging from energy and public utilities to retail and healthcare. The possibilities are virtually endless and can be implemented in every industry, delivering the potential of blockchain technology to the masses in a real, profound way.”
