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Pangea Blockchain Fund leads $4M StrongBlock raise

Tony Zerucha

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StrongBlock (www.strongblock.io), a Magnetic Capital incubated startup founded by four former technology executives from EOSIO-creator Block.one, today announced it has secured a US $4 million seed round led by Pangea Blockchain Fund and limited partners including Copernicus Asset Management. The raise will support the company’s plans to be the blockchain standard for enterprises, financial institutions, and governments.

Unlike most enterprise blockchain projects to date that have failed due to inadequate blockchain protocols and inexperienced executives, StrongBlock 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, StrongBlock said in a release.

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 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,” Mr. Moss said. “If there was a way to push a button and get an enterprise-ready blockchain, you’d move further, faster. StrongBlock does that.

“Enterprises already know they have certain problems that only blockchain can solve, notably in supply chain, product provenance, healthcare, and finance.”

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: utilizing blockchain technology to change underlying systems that power the things we do every day,” said 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 Mr. Duplessie’s sentiment, Maggie Rokkum-Testi, CIO of Copernicus, said, “StrongBlock’s technology will enable blockchains to become ubiquitous, fueling 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.”

Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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