BitGo Sweep, the leading Bitcoin security platform, announced today that it has raised $12 million in Series A financing led by Silicon Valley venture capital firm Redpoint Ventures. Previous investors Bridgescale Partners, Jeff Skoll, Bill Lee and Eric Hahn took part in the round. New investors include Radar Partners, Founders Fund, Barry SilbertTM’s Bitcoin Opportunity Corp. , Liberty City Ventures, Crypto Currency Partners, Ashton Kutcher & Guy Oseary’s A-Grade Investments, and a number of leading Bitcoin industry executives and angel investors This funding makes BitGo one of the most well-funded companies in the Bitcoin ecosystem, positioning the company for significant growth.
BitGo also announced that Jeff Brody, the founding partner of Redpoint, and Stratton Sclavos of Radar Partners will join the Board of Directors. Oh, Mr. From 1995 to 2007, Sclavos was CEO of Verisign Internet Security Company and served on the boards of public companies Intuit, Juniper Networks and Salesforce. Come on,
‘Bitcoin has opened a new frontier just like the advent of the commercial Internet in 1994,’ said Stratton Sclavos, Partner at Radar Partners and former CEO of Verisign. ‘At the same time, this new industry promises endless opportunities while facing significant security threats. We believe that BitcoinTM’s inherent advantages over the existing financial services infrastructure, combined with BitGoTM’s best-in-class security platform, will accelerate the adoption of digital money as fundamentally as the Internet has changed global communication and publishing. ”
BitGo (www) Bitgo is Com) operates a Bitcoin security-as-a-service platform based on its patented multi-signature technology. The company is currently offering the world’s most secure online Bitcoin wallet for individuals, and BitGo Enterprise (bitgo) Com/enterprise), the first multi-purpose, multi-user solution for corporations and financial institutions to manage their Bitcoin holdings with enterprise-grade security. The company also enables exchanges, marketplaces and e-commerce players to use its platform to facilitate secure, multi-party transactions secured with BitGo.
BitGoTM’s founding team consists of financial technology, online security, and digital currency veterans Will OTMBrien, Mike Belshe and Ben Davenport.
With sufficient security, Bitcoin is a game-changing technology for global trade and capital markets. With its decentralized, peer-to-peer transaction and clearing system, Bitcoin is poised to disrupt traditional payments and money transmission by reducing transaction fees and eliminating fraud and chargebacks. In the developing world, Bitcoin is being adopted as a viable alternative to legacy currencies for wealth storage and transfer.
‘We’re still in the early stages of the Bitcoin Revolution,’ said Will OTMBrien, Chief Executive Officer and co-founder of BitGo. ‘BitGoTM’s mission is to secure the Bitcoin WorldTMs By resolving BitcoinTM’s early security concerns for our customers and industry partners, BitGo is excited to help the Bitcoin industry grow with what we believe will be a speed and scale comparable to the Internet itself. ”
ENTERPRISE-GRADE SECURITY BITCOIN WITH MULTI-SIG
BitGo offers a full platform featuring enterprise-grade security, multi-signature wallets, transaction signing policies, private key generation and management, and robust authentication.
Prior to BitGoTM’s market entry in 2013, Bitcoin wallets were backed by a single private key, creating a single point of attack that led to many well-publicized security breaches in recent years. BitGo has developed a multi-signature ‘2-of-3 key’ wallet in which three keys are issued and any two are required to sign a transaction ‘a digital equivalent of a bank safe deposit box.
The company has developed a range of innovative safety products that leverage and strengthen emerging industry standards, including BIP16 (P2SH) and BIP32 (hierarchical deterministic wallets)
BITGO ABOUT, INC
BitGo, based in Silicon Valley, launched the first ever multi-signature Bitcoin wallet in 2013 and continues to create innovative security services in line with emerging industry standards. The company operates a security-as-a-service platform that powers the industry’s most secure, online Bitcoin wallet and corporate treasury and key management solutions.
BitGo was founded by veterans of online security, digital currency, and financial technology. Investors and consultants include elite Silicon Valley venture capitalists and angels and insiders of the Bitcoin industry who have supported successful companies such as PayPal, Netscape, Red Hat, Proofpoint, Verisign, Juniper Networks, Yammer and Tesla.
BitGo, BitGo Enterprise, BitGo Secured, and BitGo Cold Key are trademarks and service marks of BitGo, Inc.
Visit: https://www to learn more about BitGo Bitgo is Come on,
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