US-based blockchain software developer Bison Trails closed a $25.5m series A round on Tuesday featuring blockchain technology provider Consensys and digital currency exchange operator Coinbase.
Venture capital firm Blockchain Capital led the round, which included Kleiner Perkins, A Capital, Collaborative Fund, Coven, Sound Ventures, Initialized Capital, Accomplice, Galaxy Digital and Notation Capital, while Coinbase invested through corporate venturing unit Coinbase Ventures.
Bison Trails has created a software platform that helps blockchain operators run the nodes that make up each blockchain. They can claim tokens and offer private access to blockchains while ensuring the blockchains remain safe and secure.
The funding will go to expanding the company’s team and enhancing its technology platform as it seeks to increase the number of protocols it supports.
The company said in a blog post: “This year alone, our enterprise-grade platform helped dozens of blockchain founders and protocol teams to test, launch and scale their blockchains while providing their communities easy pathways to participate and build safely.
“Digital asset holders rely on Bison Trails to manage the infrastructure, security and devops traditionally needed to participate in staking, voting and securing a blockchain.
“With our premium platform, companies looking to run private nodes to access a blockchain, never have to worry about whether their services are secure or available. And we have many exciting product announcements to come in 2020.”
Initialized Capital and Accomplice led the startup’s $5.25m seed round in March this year. They were joined by Notation Capital, Homebrew, Galaxy Digital, Distributed Global, Charge Ventures and undisclosed angel investors.