Californian hardware and software provider PeerNova, announced it has just received investments of $8.6 million.
The firm has closed the Series A funding round, which was aimed at speeding up the launch of its blockchain-based enterprise software solutions. The investors included Mosiak Partners, FireEye CTO and founder Ashar Aziz, investor Steve Case, Pierre Lamond, Crypto Currency Partners, CALIENT Technologies CEO Atiq Raza and others.
PeerNova, which is located in Silicon Valley, is going to launch cryptocurrency Software as a Service (SaaS) platform, increase sales and enlarge the marketing and support team. It is concentrated on the decentralized applications, smart contracts and property.
The company is aimed at bringing new enterprise blockchain software to customers and businesses, allowing them to have their own blockchain applications. The companies will benefit from participating in a public blockchain or launching their own private effort.
A blockchain is a database of transactions that are part of an application. It allows financial asset transfers and asset registry applications without participation of any intermediates. Besides, it significantly minimizes cost on making transactions.
Miles Kilburn of Mosaik Partners commented: “We are very excited about the enormous potential of block chain technology to serve as a platform to reduce friction, costs, and improve security in e-commerce financial and other transactions.”
“We could not be more pleased to partner with the team at PeerNova,” he also noted.
Mr. Kilburn is also planning to join the company’s Board of Directors as part of the investment.
PeerNova CEO, Dr. Naveed Sherwani, said: “This is a significant step that further solidifies our belief in the blockchain as the remarkable invention of the 21st century. This investment will help us hire the best of breed in software engineering talent, expediting our development timelines. We will be launching our first industry-leading applications in 2015.”
Mosaik Partners offers the capital, guidance and resources for companies developing commerce enabling technologies. The firm allows such companies to expand their businesses and increase profitability. The company’s industry knowledge and huge transactional experience provides it with flexibility in investments.
PeerNova is a leading provider of distributed trust systems based on blockchain technologies. The company plans further business expansion in 2015 with the launch of new applications. It is currently focused on two types of applications: registry and transmit/exchange applications. Registry applications allow decentralized asset storage, while transmit/exchange application ensures secure movement of virtual money across the globe. The company was formed in April 2014 through a merger of Cloudhashing and Highbitcoin companies.