Cere Network’s Season II graduating cohort just got a financial boost from Binance-run Blockchain incubation program, Binance Labs. The decentralized Blockchain-powered customer relationship management (CRM) platform has reportedly secured strategic funding as it gets ready for the June 5 event.
According to a Press Release published on Cointelegraph, the group from Cere Network had been getting professional help via the incubation program.
And with their incubation program coming to an end, Cere Network was lucky to secure funding from Binance Labs along with two other firms; Arrington XRP Capital, and NEO Global Capital.
Ceres Runs a Blockchain-Based CRM Platform; the First of its Kind
Cere Network reportedly operates a “decentralized system” whose role includes storing customers’ data in Blockchain. Any business or vendor wishing to access the system must first have to go through Cere and collect permissioned proxy keys.
The whole arrangement makes it easy for Cere to ensure that everyone granted the keys to access the platform is careful with the customer data when sharing them. Also, the Blockchain-based platform has eased the normal procedure aggregating data for analysis, coming in handy at a time when both CRM and CDP systems operate independently.
Cere hasn’t just secured their system on Blockchain. It is believed to be planning to issue CERE, an incentive token that will rally users to adopt and use Blockchain nodes. The token will additionally enable them to conveniently pay for network services.
All these steps being taken by Cere Network, apparently, aren’t in vain. According to the Press Release, the network now is the first CRM and CDP platform to anchor its operations in Blockchain. Furthermore, reputable research company, Gartner, recently described it as “the largest and fastest growing (company in the) software category.”
The head of Binance Labs, Ella Zhang, meanwhile, has assured the CRM and Customer Data Platform that it would keep working with them. Zhang praised Cere, saying that it’s establishing itself as one of the biggest on-ramps helping apps, brands and institutions move into Blockchain.
According to Ella Zhang, Binance Labs already plan on integrating the platform into the Binance Chain and subsequently help build the ecosystem even further. More on the integration would, however, be announced in due course.
Binance-run Blockchain incubation program runs for ten weeks and involves several projects. The first group to graduate from Binance Labs successfully did so in December 2018, having succeeded in seven of their original eight projects. They had eight projects, and they received $500,000 in funding, besides a host of other resources and mentorship.