Chain

blockchain

STATUS: Acquired/Merged
FOUNDING YEAR: 2014
LOCATION: United States
Last Update: 01/05/2020

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MEDICI Analysis

Chain is a technology platform that partners with organizations to build, deploy, and operate blockchain networks and applications for various markets. The company offers enterprise software that enables institutions to launch and operate a blockchain network or connect to a growing list of other networks to power any type of asset in any market. It also offers testing network i.e, Chain testnet, operated by Chain, Microsoft, and the Initiative for Cryptocurrencies and Contracts (IC3), a collaboration of Cornell University, Cornell Tech, UC Berkeley, the University of Illinois at Urbana-Champaign, and the Technion. It is an open network that enables developers to quickly and easily build test applications using Chain Core. They also partner with banks and financial institutions to create blockchain financial network for them.

Focus

PRODUCTS & SERVICES

Platform provider to design and build blockchain applications for financial institutions and other enterprises. Chain Core Enterprise Edition: An open source-based enterprise software that enables institutions to issue and transfer financial assets on permissioned blockchain networks.

REVENUE MODEL

The company follows Platform-as-a-Service-based revenue model.

MAIN CLIENTS

Visa

Nasdaq

Fiserv

Citigroup

Capital One

Orange

State Street

MUFG

etc.

EXISTING PARTNERSHIPS

Partnered with Microsoft

IC3 (Initiative for Cryptocurrencies and Contracts) and universities to develop the testnet platform for blockchain developers.

COMMENT

The platform offers additional features such as HSM integration, advanced scalability, availability and storage systems, enhanced privacy capabilities, and custom smart contract support.

Traction

VALUATION / MARKET CAP:

$200 M in 2015

People

BOARD MEMBERS AND ADVISORS

Keith Rabois

Eric Wiesen

Jeff Garzik

Jim Robinson

NUMBER OF EMPLOYEES

11-50

INVESTORS:

500 Startups

Barry Silbert

Betaworks

Capital One

Citi Ventures

Crypto Currency Partners

Fiserv

Homebrew

Kevin Ryan

Khosla Ventures

Orange

Orange Digital Ventures

Pantera Capital

RRE Ventures

Scott Banister

SV Angel

Thrive Capital

Visa

KEY EMPLOYEES:

Adam Ludwin (CEO); Ryan Smith (CTO); Devon Gundry (Chief Product Officer)

Momentum

FUNDED

YES

TOTAL FUNDING

$43.7 M

DATE OF LAST FUNDING

Nov 2019

SEED & PRIOR FUNDING

$4.2 M

SEED CLOSED ON

Jan 2014

FUNDING SERIES

SERIES A  · $2.01 K  · ---

SERIES B  · $9.5 M  · Aug 2014

SERIES C  · $30 M  · Sep 2015

LISTED

NO

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