Data Technology Blockchain Startup Fluree Secures Nearly $5 Million In Seed Investment Funding
Data technology startup based in North Carolina has announced that they have raised $4.7million in their first funding round. The round was led by 4490 Ventures, with participation from Revolution’s Rise of the Rest Seed Fund.
Congrats to the team at @FlureePBC on an eye-popping seed round from an elite group of funds.
North Carolina is proud, Winston-Salem is proud, and we at #IdeaBlock are proud to be your partners in tech.
Cheers to your next chapter – we're beyond excited to witness the ride! https://t.co/5oxuVXIHAm
— IdeaBlock (@ldeaBlock) June 3, 2019
Established in 2016 by veteran IT entrepreneurs Brian Platz and Flip Filipowski, Fluree provides a data management platform that allows developers to create secure applications while solving challenging data management problems like data state and scalability.
Brian Platz, co-CEO and co-founder of Fluree recognizes the utility of data in the present world and says:
“Data is at the center of the new economy, yet it is managed by the same database approach we’ve had for 40 years. We need to move beyond the application-centric mindset that has given rise to data silos and API bloat while increasing costs and obstacles to adopting new tech-like AI. A data-centric approach simultaneously saves money, promotes secure enterprise collaboration and provides additional leverage for information across systems.”
Fluree’s data management strategy concentrates on immutability, data integrity and joining disparate data sets dynamically through its semantic graph technology. It enables developers to instantly generate more robust and reliable applications while solving challenging data management problems like ‘race’ conditions, reproducible data state and scalability.
The Venture Capitalists who invested their money into the project are also really excited about their new venture and recognize the potential of both Data and Fluree. Dan Malven, managing director at 4490 Ventures says:
“Fluree is set to revolutionize the way we manage and share data. The world is evolving from static apps to platforms to ecosystems, and technology tools have not kept pace. Innovators have to force fit data management tools originally designed to build static apps, slowing down the evolution to data-driven ecosystems. Fluree has in place the mission, technology and road map necessary to serve a wide variety of industries as they transform through the next evolution of data management to a much more interconnected world.”