Bison Trails, a company which specializes in developing and hosting secure blockchain based infrastructure, has recently announced the successful closure of their Series A.
The event saw the company bring in a total of $25.5 million from a series of investors. These funds will provide a runway for the company, allowing them to continue developing their services.
Bison Trail has provided information on where their funds were generated from. They indicated that Blockchain Capital led the way, with the following companies also contributing unspecified amounts:
- Kleiner Perkins
- Coinbase Ventures
- Collaborative Fund
- A Capital
- Sound Ventures
- Galaxy Digital
For those that follow the ongoing saga surrounding Facebook and their Libra project, the name Bison Trails might sound familiar. That is because they are one of the founding members behind the project.
A major influence on their trajectory is, no doubt, their participation within the Libra Association. Unlike various high profile companies, such as MasterCard, PayPal, and Visa, Bison Trails has not abandoned the project.
What’s Good for the Goose is Good for the Gander
With Bison Trails expected to play a pivotal role in the development of Libra, it only makes sense that another founding member of the project – Coinbase – has taken part in helping them succeed through their Series A. This is a situation where what is good for Bison Trails, will benefit their peers.
While there was a period where high levels of disdain surrounded Libra, this has appeared to die down in recent weeks. In fact, the most recent commentary to come out on the subject from a high ranking figure was positive in nature. Secretary of the United States Treasury, Steven Mnuchin, had the following to say.
“I’m fine if Facebook wants to create a digital currency, but they need to be fully compliant”
While not a glowing endorsement, this is a far cry from denouncing the project. Facebook has always known that they would need to adhere to regulations, and those in power seem to be accepting the fact that Libra will, at some point, see the light of day.
Upon announcing the closure of their successful Series A, Bison Trails penned a short letter, detailing their state of affairs. Below is a short excerpt, elaborating on their view of blockchain in the now, and the future.
“We’re entering a new phase in blockchain development and participation, one marked not by pure asset speculation, but by robust, usable, and scalable networks where stakers, voters, validators, investors, and many others actually participate in the growth of these communities. We believe we’re still at the very beginnings of this massive shift in how people participate in blockchain networks, and we plan to make blockchain participation as accessible, safe, and scalable as possible.”
Operating out of New York, Bison Trails is a blockchain based tech platform, which was founded in 2018. Above all, the company specializes in providing a means to run ‘secure infrastructure on multiple blockchains’, for those that need it.
CEO, Joe Lallouz, currently oversees company operations.
In Other News
Launching and completing a successful Series A is an important step for a company. These capital generation events take place once a company has proven that they hold more than simply potential. They have typically established modest levels of adoption, and find themselves at a juncture in which more capital is needed to continue along a positive growth trajectory.
The following articles detail a few of the more recent Series A events which have taken place by companies shaping the digital securities sector; one from each North America, Europe, and Asia.