Published on April 20th, 2017 | by bitcoin0
$8 Million Secured For Bitcoin Startup Factom in Series A
Austin-based blockchain startup Factom, known for leveraging the bitcoin blockchain for projects including plans to secure land titles in Honduras, has raised over $8 million as a part of its extended Series A funding round.
In October 2016, Factom raised $4.2 million in its Series A round, led by prolific industry investor Tim Draper of Draper Associates.
At the time, the company revealed the new finances would be used toward bringing in new personnel and the development of new Factom applications.
During its launch in 2014, Factom published its whitepaper, revealing its aim to secure data with a data-keeping layer of record on the bitcoin blockchain.
Factom then complies the data in a merkle tree anchor prior to publishing it on the bitcoin blockchain every 10 seconds.