Facebook’s Libra project appears to be in the throes of a massive regulatory battle as, globally, there are many concerns. More so, the Association, which initially consisted of 28 members, has been trimmed down as some major players in the realms of payment and other sectors have pulled out.
While the project hangs in the balance, those Association Members that remain have managed to make the headlines with their own news still. The latest Member, Bison Trails, which is a company that provides secure, enterprise-grade infrastructure for multiple blockchain networks, has secured a $25.5MM Series A round of financing.
Blockchain Capital led the investment round, with participation from Kleiner Perkins and Coinbase, joined by Collaborative Fund, A Capital, Consensys, and Sound Ventures, as well as early investors Initialized, Accomplice, Galaxy Digital, and Notation.
Bison Trails is looking to position itself in an arena where entire blockchain ecosystems are being developed, and it removes the need for customers to spend resources on developing in-house security, DevOps, infrastructure, and blockchain protocol engineering competencies.
Be bold enough
Blockchain technology is approaching a new era in the enterprise space. It was not too long ago that many different major enterprises were just starting their journey with the technology, experimenting, and piloting. However, now these same copies have reached a place where they are looking for more, and in these instances, the likes of Bison Trails can come in.
“When we started building Bison Trails, we wanted to bring transparency and ease to entrepreneurs bold enough to build in a decentralized ecosystem, investors wise enough to back a nascent market, and enterprises courageous enough to commit to a technological inevitability like blockchain technology and cryptocurrency,” said Joe Lallouz, CEO of Bison Trails.
“We have become the easiest way to run infrastructure on multiple blockchains. And have helped the world’s leading protocols, companies and builders launch and manage secure, highly-available, and geographically distributed nodes on blockchain networks.”
Advancing the utility of blockchain
Those enterprises that are trying to push their own Blockchain narrative are also doing a lot to help the ecosystem advance. Taking the next step on the magnitude of enterprise-grade infrastructure for multiple blockchain networks points towards real use cases.
On top of this, the companies investing in Bison Trails to drive their deliverables have also identified that it is a facet that needs to be moved forward. Key Blockchain and cryptocurrency companies, such as Blockchain Capital and Coinbase, have seen that these blockchain infrastructures can help drive mass utility.
“The team at Bison Trails shares our long-term vision of advancing the crypto ecosystem towards delivering massive utility at a global scale,” explained Emilie Choi, COO of Coinbase.
“We believe crypto networks will continue to move towards active network participation models (i.e., staking, voting, signaling, etc.), further reinforcing the need for solutions such as those that Bison Trails provides.”
For Blockchain Capital, its reason for investing is also predicated on the need for driving the next step in the evolution of blockchain technology, especially on such a level.
“New protocols and next-generation crypto networks involve active participation by investors, end-users, and partners. Bison Trails’ Blockchain Infrastructure-as-a-Service platform makes this easy for all stakeholders,” said Brad Stephens, Co-founder & Managing Partner of Blockchain Capital.
Libra Association, a doorway?
It is clear that Bison Trails os offering a service that is continually growing more important and needed in the advancing enterprise blockchain space, but it also comes off the back of being one of the founding members of the Association.
It is also not the first time that one of the blockchain startups in the Association has gained funding on a high level, from high-level investors.
Earlier this year, Anchorage, another one of the Libra Association members, raised $40 million in Series B funding. The funding was also lead by Blockchain Capital, but Visa, at the time part of the Association, also participated.
Anchorage said that the deal had been in the works before they both joined the Libra Association. However, it must have been helpful to sit in the same room, under Facebook’s roof, and get a little more acquainted before fully hashing out the deal.
Bison Trails has a strong background, and a well-regarded team, but the fact that it was rubbing shoulders with the likes of PayPal, Visa, Uber Vodafone, and others must be helping its status.
More so, there are more suggestions of this ‘Facebook Mafia’ with Coinbase, a fellow Member in the Libra Association investing in one of the smaller blockchain startups – Bison Trails.