Factom Raises $750k in Series A Funding
Summary
Factom, Inc., a Austin, TX-based blockchain-as-a-service technology company, raised $750k in Series A funding.Medici Ventures, the blockchain-focused subsidiary of retail technology leader Overstock.com, Inc. (NASDAQ:OSTK), made the investment receiving 2.5% of common stock.In conjunction with the funding, Steven Hopkins, Medici Ventures’ chief operating officer and general counsel, will join Factom’s board of directors.Led by CEO Peter Kirby, Factom is a technology company that aims “to make the world’s systems honest” applying blockchain solutions to Enterprise, Government and Non-Profit systems for compliance, identity, transparent assets, and securities.The company’s products include Factom Harmony, which converts document management solutions into a blockchain based document platform, and Acolyte, to build a reputation for smart contract execution.