For Blockchain powered Data platform, Fluree secured $6.5 million in Seed Funding

Fluree, a Winston based secure data Management Company has now secured its seed funding round of $6.5 million in Venture Capital funding.

Fluree is founded by Brian Platz and Flip Filipowski in the year 2016. It is a Public Benefit Corporation operating an enterprise data management platform that guarantees data integrity, facilitates secure data sharing, and powers data-driven insights.

The platform organizes a blockchain secured data in a scalable semantic graph database. It works as a foundation layer of trusted data for connected and intelligent data ecosystems.

Fluree Co-CEO Brian Platz, said, "We couldn't ask for a better group of investors to bolster our platform during a time of rapid blockchain innovation. As data-centric security, verifiable credentials and secure data sharing become the cornerstones of Web 3.0, Fluree and our trusted investors are becoming key players in the internet of tomorrow."

Dan Malven, managing director of 4490 Ventures, said, "The power of data-centricity is evident in the market dominance and profitability of data-centric companies, such as Amazon, Google and Microsoft. Fluree’s mission is to enable enterprises to evolve from their current state of being application-centric to becoming data-centric. Becoming data centric using current data management products is too difficult and expensive for 99% of the world’s enterprises. Not only does Fluree take out massive cost elements of becoming data centric, it enables a whole suite of new capabilities that not even the largest companies can build today without storing their data in a platform such as Fluree’s."

The round was backed by the 4490 Ventures along with participation from Good Growth Capital, Rise of the Rest, Ray Rothrock, and Engage Ventures.

The company, as of now, has plans to use the new funds to accelerate product development efforts for building applications that utilize W3C verifiable credentials and decentralized identifiers (DID). notes the announcement.