BlockStream’s offering lures fifteen backers and raises $15.18 million

XDATA – October 1st 2014

blockstreamSo far fifteen investors participated to BlockStream‘s $16.2 million non-brokered financing round. Financial backers bought, almost two weeks ago, 94% of the offering or $15.18 million worth of equity. The company doesn’t appear to have previously sold securities under a registration exemption with the SEC.

The company is focusing on digitizing the entire planet’s assets for the betterment of mankind. The company is developing a mechanism to create sidechains, in other words cryptographically decentralized (non-fractional) IOU such as a bitcoin-based crypto-currency.

The company, headquartered in Montreal Canada, was registered this year. Revenues were not disclosed.
The executive team includes Adam Back, Austin Hill, Hammie Hill and Shahir Guindi.
The board of directors includes Reid Hoffman.

Offering recap
Status: First close
Company: BlockStream
Industry: Other Technology
Amount offered: $16.2 million
Amount placed: $15.18 million
First sale: 09-19-2014
Data as of: 10-01-2014

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