NEW YORK, Aug. 14, 2018 /PRNewswire/ -- Axoni, a leading provider of enterprise blockchain technology, announced today the completion of a $32 million Series B financing round led by Goldman Sachs and Nyca Partners, bringing Axoni's total funding to date above $55 million. The financing round also included participation from Andreessen Horowitz, Citi, Coatue Management, Digital Currency Group, F-Prime Capital, Franklin Templeton Investments, J.P. Morgan, NEX Group, Wells Fargo, and Y Combinator.

Since its founding in 2013, Axoni has established itself as a leader in blockchain technology through successful partnerships with top investment banks, asset managers, and market infrastructure companies. Axoni's AxCore technology has been deployed across a variety of markets ranging from complex derivatives to high-volume foreign exchange. Notably, it has earned the role as the industry's choice to re-platform the system underpinning the legal records, lifecycle events, and cash flow calculations for the $11 trillion credit derivatives market.

Axoni will use the latest round of financing to enhance its data synchronization technology, expand its suite of infrastructure products to support mission-critical deployments of AxCore, and broaden the network of enterprises leveraging distributed ledgers. It will also advance development of AxLang, the world's first Ethereum-compatible smart contracting language to enable formal verification.

"Our strategic partners have been critical to our success so far; we are delighted to strengthen and expand those relationships with this financing as we continue to deploy Axoni's technology," said Greg Schvey, CEO of Axoni.

"Axoni has established itself as a market leader in enterprise blockchain, delivering solutions that can be used at scale across financial markets. We are pleased to work with them as they execute their strategy," said Ashwin Gupta, Managing Director of Goldman Sachs.

"We believe Axoni has clearly become the leading enterprise blockchain company, and has executed in an impressive way on each of its major projects, all with top tier partners," said Hans Morris, Managing Partner of Nyca Partners.

"We are pleased to be part of Axoni's journey since co-leading their Series A financing back in December 2016, and we are excited to see their progress made to date," said C. Thomas Richardson, head of Market Structure and Electronic Trading Services at Wells Fargo Securities. "The adoption of distributed ledger protocols in capital markets resembles the early days of adopting TCP/IP for distributed enterprise applications. We continue to be impressed with Axoni's ability to facilitate such adoption by identifying use cases that could benefit from blockchain technology."

"We are excited to see how far Axoni have come since we first began working with them in 2016. Through our ongoing collaboration, they have proven the ability of their technology to perform at the scale of the FX markets, and we look forward to further expanding our work with them – including with new asset classes – in the near future," said Andrés Choussy, CEO, Traiana. NEX co-led Axoni's Series A in December 2016. The investment was made by NEX Group's fintech investment business, NEX Opportunities.

About Axoni

Axoni is a New York-based technology firm that specializes in distributed ledger infrastructure whose clients include many of the world's largest financial institutions and capital markets infrastructure companies. Founded in 2013 by a team of distributed ledger technology experts, the company offers blockchain infrastructure, distributed application development, and workflow automation tools.

SOURCE Axoni

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https://axoni.com