Series A Funding Round for Credly Brings in $11.1 Million
Startups often get involved with funding rounds in an effort to bring in capital for the costs associated with developing their exchange. A recent Series A funding round, which was led by Zoma Capital and Strada Education Network, brought in $11.1 million for a new startup based in New York named Credly, which created digital credential products. The funding round was announced by Credly on Twitter, reports SludgeFeed.
We are thrilled to announce we have just raised $11.1m in new funding. Another step toward creating the future for #digitalcredentials. cc @JEFinkelsteinhttps://t.co/DFOIvoox3D pic.twitter.com/tbhyTXQ9Fp
— Credly (@credly) April 24, 2019
With the services available through Credly, users are able to create, issue, and share their own credential digitally, using a proprietary blockchain platform. Consumers can also see analytics on the way that the credentials have been used. With this Series A funding, Credly’s overall value is $18.2 million. As the company sees it, this value shows the interest that major employers have in using digital credentials.
CEO Jonathan Finkelstein commented that the company is presently “working with some of the world’s most recognizable and trusted organizations.” Their work will create a “skills-based currency” for the workplace, combining the help of “social impact, strategic, and growth capital partners” to connect with the community.
I've followed the development of digital credentials (micro-, badge and otherwise) for 6 years. Over that time, @Credly has been the slow-but-steady player.
— Frank Catalano (@FrankCatalano) April 24, 2019
Other investors in the Series A round include New Markets Venture Partners, University Ventures, Lumina Foundation, and Pearson and Lion Brothers Company.