Brave Software Raises $4.5 Million in Seed Financing and Readies for 1.0 Launch

SAN FRANCISCO, Aug. 1, 2016 /PRNewswire/ -- Brave Software, a start-up reinventing the browser as a user platform for speed, privacy, and micropayments, announced today that it has raised a $4.5 million seed round investment from leading venture capital firms and angel investors. Participating in the round are Founders Fund's FF Angel, Propel Venture Partners, Pantera Capital, Foundation Capital, and Digital Currency Group. This round of funding will be allocated towards platform development and growth. This brings the total amount of funding to date to $7 million with previous angel funding from private investors.

Brave is a new open source browser for desktop and mobile that blocks invasive ads and online trackers to provide a faster and safer web experience. Unlike traditional browsers, Brave has a built-in ad-blocker (no extensions needed) which reduces page loading time, improves performance, and guards from ads infected with malware. On the desktop, Brave provides a 40% to 60% speed increase, and a 2x to 4x speed increase on mobile devices. Mobile users see a direct reduction in both battery and data plan consumption. Brave also protects users with leading privacy and security features such as HTTPS Everywhere (encrypted data traffic), fingerprinting shields, phishing protection, malware filtering, and script blocking.

Brave is partnering with BitGo and Coinbase to provide wallets and purchasing tools for the Brave Ledger, a new Bitcoin-based micropayments system that automatically and anonymously pays users' favorite websites. Brave also will allow users and publishers to opt into a better, privacy-preserving ad model that shares revenue with users as well as publishers.

"Online advertisers have been exploiting user data for years without consent, sometimes even infecting devices with malware. It's no wonder that 200 million users worldwide have adopted ad-blocking to defend themselves. Viewing content on the Internet should not come at the expense of one's safety," said Brendan Eich, President and CEO of Brave Software. "The Brave solution fends off intrusive ads and stops the collection of personal details by third parties, enhancing not just browsing speed, but security and privacy. With Brave, users can now fight back and keep their data private and defensible on their devices, while still supporting the content they wish to view via micropayments."

"The amount of information that online advertisers are able to gather without consent is staggering. As more people become aware of these threats to their privacy, there will be huge demand for Brave's technology," said Cyan Banister, Partner at Founders Fund.

"We are proud to partner with Brave. We believe in their mission to fix the browsing experience and are excited Brave is using the blockchain to better support publishers and pay users," said Jay Reinemann, Partner at Propel Venture Partners.

"Pantera is thrilled to be partnering with Brave to bring an enhanced user experience, privacy, and security to the browser.  Brave is bringing an innovative model where users and publishers can get paid in real-time micropayments using the blockchain. We believe that Brendan and his team are best suited to execute on this vision," said Dan Morehead, CEO of Pantera Capital.

Brave is currently available in developer version, and will launch its 1.0 release in September 2016. Brave is available for download (https://brave.com/downloads.html) for mobile devices (iOS and Android), as well as the following desktop platforms: MacOS, Windows (32 bit and 64 bit), and Linux (Debian, Ubuntu, Fedora, OpenSUSE).

About Brave Software

Brave Software (https://brave.com/) is a new start-up that is building a fast, open source, privacy-focused browser that blocks invasive ads and trackers. Brave aims to reset the online ad ecosystem with faster and safer browsing, as well as Bitcoin micropayments and opt-in anonymous ads to share revenue with users and to support publishers. The Brave solution is a win-win for everyone who has a stake in the open Web and who is weary of giving up privacy and revenue to the ad-tech intermediaries. Brave Software was co-founded by Brendan Eich, co-founder of Mozilla and creator of JavaScript, and Brian Bondy, formerly of Khan Academy and Mozilla.

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SOURCE Brave Software

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