Libra Closes $15 Million in Series B Funding to Support Ongoing Institutional Investor Adoption of Crypto Assets
NEW YORK--(BUSINESS WIRE)--Aug 7, 2018--Libra, the leading provider of middle and back office technology and data services for the crypto asset ecosystem, today announced the close of a $15 million Series B round. The funding was led by its previous lead investor, a prominent, multi-billion dollar European family office, with continued participation from Series A investors, including Liberty City Ventures. This round brings Libra’s total funding to $24.8 million.
Libra is a leading blockchain-native technology company focused on transforming crypto transactional data into operational and audit-ready financial information for institutions. The company plans to use its new funding to continue building out its core product, the Libra Crypto Office platform, as well as support the release of new products and services later this year.
On the heels of Libra’s announcement regarding its support for fund administrators, the close of Libra’s Series B round underscores the company’s success in providing critical reporting infrastructure utilized in traditional markets to the crypto world. The capital raise not only strengthens the ability for further product growth but also the ongoing expansion into new customer segments such as miners, lenders and custodians.
“Libra’s mission is to provide a system of record that allows institutions with crypto transactions to meet the reporting requirements of managers, investors, auditors and regulators,” said Jake Benson, Founder and CEO of Libra. “We are very excited our investors have affirmed their continued support for Libra with their contribution to our Series B raise. Their commitment allows us to expand our customer offerings, grow our team and increase our customer base.”
Founded in 2014, Libra is a trusted, blockchain-native technology company that delivers the leading middle and back office solution for the crypto asset ecosystem. Libra provides a system of record that automates and optimizes accounting, audit and tax processes for funds, fund administrators, exchanges, trading operations and enterprises. These premier solutions ensure real-time visibility to crypto transaction activity and holdings for institutions that require highly scalable and secure reporting, compliance and control solutions. Libra is based in New York City.
For more information, visit www.libra.tech.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180807005120/en/
Tom Rozycki, 212-279-3115
Jaimee Pavia, 212-279-3115
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT NETWORKS SOFTWARE SECURITY MOBILE/WIRELESS PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: Libra Tech
Copyright Business Wire 2018.
PUB: 08/07/2018 09:00 AM/DISC: 08/07/2018 09:01 AM