Libra

blockchain

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

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About

Libra is the enterprise grade programing and user interface enabling interaction with a new era of distributed ledger technology. We enable an enterprise and its people to integrate with new blockchain distributed ledger networks through our 3 C's: Compatibility, Compliance, and Comfort. (C)ompatibility means we extract blockchain and third party data and translate it to be readable for existing software, (C)ompliance means Libra ensures enterprises have full transparency of distributed ledger data for audit, compliance, and risk management, and (C)omfort is an intuitive user experience and easy to use and navigate UI.

MEDICI Analysis

Libra is an enterprise grade middleware, reporting & analytics, audit & compliance, and accounting layer for blockchain inspired distributed ledger platforms. It helps to automate and optimize accounting, audit, and tax processes such as reporting, reconciliation, controls, and compliance for organizations deploying a cryptographic ledger, trading digital assets, or exploring process automation with smart contracts.

Focus

PRODUCTS & SERVICES

Blockchain-based platforms for compliance and audit solution. It offers various products; 1- Libra Crypto Office: It enables funds, market makers, and exchanges to automate and optimize back and middle office processes and reporting while improving operational and financial analysis and control. 2- Libra Blockchain Audit Tools: It enables information systems auditors to perform real-time, continuous auditing and monitoring of distributed ledger systems.

REVENUE MODEL

Custom Pricing Through Subscription Based Software Licenses

MAIN CLIENTS

ShapeShift

XBTO

PRIMARY PROBLEM SOLVED

Data on a blockchain is not compatible with an enterprise's current software and databases. Libra extracts blockchain data, translates it to be readable by current software and databases, and loads it into existing enterprise software applications such ERP, Risk Management Systems, BI Systems, and CRM's. Additionally, Libra provides compliance and business management transparency through reporting, dashboards, analytics, and notifications.

INTELLECTUAL PROPERTY

Patent(s) FILED

COMMENT

The company will provide a system of record that allows institutions with crypto transactions to meet the reporting requirements of managers, investors, auditors, and regulators. (Aug. 2018)

company provided insights

Traction

ACTIVE USERS COMMENT:

Current active users are for Retail product only. Enterprise product is in production and at the pilot/poc stage with clients.

People

FOUNDERS

Jake Benson

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Ben Davenport

Boost VC

CrossCoin Ventures

Fenbushi Capital

Hard Yaka

James Pallotta

Lee Linden

Liberty City Ventures

Raptor Group

KEY EMPLOYEES:

Jake Benson(CEO)

COMMENT:

Strong team of developers with prior blockchain/crypto coding expertise plus management team includes former exits, deep banking experience,,consulting experience.

Momentum

FUNDED

YES

TOTAL FUNDING

$24.8 M

DATE OF LAST FUNDING

Aug 2018

TOTAL FUNDING COMMENT

The company intends to use the funds to continue building out its core product, the Libra Crypto Office platform, as well as support the release of new products and services by this year. (Aug. 2018)

SEED & PRIOR FUNDING

$2 M

SEED CLOSED ON

Oct 2014

FUNDING SERIES

SERIES A  · $7.8 M  · Nov 2017

SERIES B  · $15 M  · Aug 2018

LISTED

NO

For Investors

FUNDING NEEDED:

$0.00

USES OF FUNDS RAISED:

1. Grow staff to support growing client pipeline and complete product buildout

EXIT STRATEGY

TBD

BASICS

FOUNDING YEAR:

2014

LOCATION:

United States

Views:

93 VISITORS | 191 VIEWS
LATEST FUNDING ROUND

$24.8 M

TOTAL EMPLOYEES
11-50

About

Libra is the enterprise grade programing and user interface enabling interaction with a new era of distributed ledger technology. We enable an enterprise and its people to integrate with new blockchain distributed ledger networks through our 3 C's: Compatibility, Compliance, and Comfort. (C)ompatibility means we extract blockchain and third party data and translate it to be readable for existing software, (C)ompliance means Libra ensures enterprises have full transparency of distributed ledger data for audit, compliance, and risk management, and (C)omfort is an intuitive user experience and easy to use and navigate UI.

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MEDICI Analysis

Libra is an enterprise grade middleware, reporting & analytics, audit & compliance, and accounting layer for blockchain inspired distributed ledger platforms. It helps to automate and optimize accounting, audit, and tax processes such as reporting, reconciliation, controls, and compliance for organizations deploying a cryptographic ledger, trading digital assets, or exploring process automation with smart contracts.

Focus+
Momentum+
Traction+
People+
For Investors+
Other+

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Libra

About

Libra is the enterprise grade programing and user interface enabling interaction with a new era of distributed ledger technology. We enable an enterprise and its people to integrate with new blockchain distributed ledger networks through our 3 C's: Compatibility, Compliance, and Comfort. (C)ompatibility means we extract blockchain and third party data and translate it to be readable for existing software, (C)ompliance means Libra ensures enterprises have full transparency of distributed ledger data for audit, compliance, and risk management, and (C)omfort is an intuitive user experience and easy to use and navigate UI.

Focus

PRODUCTS & SERVICES

Enterprise: Reporting, Analytics, Compliance, and Middleware Retail: Tax Reporting

REVENUE MODEL

Custom Pricing Through Subscription Based Software Licenses

TOP PROBLEM SOLVED

Data on a blockchain is not compatible with an enterprise's current software and databases. Libra extracts blockchain data, translates it to be readable by current software and databases, and loads it into existing enterprise software applications such ERP, Risk Management Systems, BI Systems, and CRM's. Additionally, Libra provides compliance and business management transparency through reporting, dashboards, analytics, and notifications.

PRODUCT DEVELOPMENT STAGE

MVP

PRODUCT DEVELOPMENT COMMENT

Currently available features: Account Manager, Reporting Engine, Transaction Explorer, KPI Dashboard, and Contract Viewer. Core features under development: Charting Tool, Event Monitor, Notification Generator

KEY DIFFERENTIATORS

Libra is a blockchain application layer and not a blockchain protocol layer. We provide middleware or compliance applications and reporting/analytics through our easy to use user interface.

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Enterprise - Others

Small And Medium Business - Other

STRATEGIC CLIENTS AND PARTNERSHIP

Pwc : Joint Business Relationship

People

FOUNDERS

Jake Benson

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

CEO, FOUNDER: Jake Benson

CTO: Deepak Rao

COO: David Albert

CRO: David Albert

employee: Jake Benson(CEO)

TEAM COMMENT:

Strong team of developers with prior blockchain/crypto coding expertise plus management team includes former exits, deep banking experience,,consulting experience.

INVESTORS:

Ben Davenport

Boost VC

CrossCoin Ventures

Fenbushi Capital

Hard Yaka

James Pallotta

Lee Linden

Liberty City Ventures

Raptor Group

Momentum

FUNDED

NO

LISTED

NO

FUNDING SERIES
Seed Feb 2016 --- USD0.00 Comment on Seed Most recent funding was a bridge round, and it has not been publicly disclosed. We are currently raising our Series A.