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BY CNA Team - October 24, 2018

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Algorand closes US$62mil funding round

Algorand announces close of US$62mil funding round
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Algorand, a blockchain platform “built for business”, has closed a US$62mil equity investment funding round and also announced the hiring of two senior executives.

The startup says in a press release that funding came from a group of venture capital, cryptocurrency and financial services investors.

Boston-based Algorand also announced the hiring of Steve Kokinos as CEO and W Sean Ford as COO. Kokinos was the cofounder/chairman of Fuze while Ford was LogMeIn’s former CMO.

The startup will use the funding to launch the blockchain protocol designed by Silvio Micali, Algorand’s founder Silvio Micali, a cryptography pioneer and Turing award winner.

Algorand raised US$4mil in seed funding in February from Pillar and Union Square Ventures.

Image courtesy of Algorand website.

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