DALLAS, Aug. 1, 2018 /PRNewswire/ -- Hedera Hashgraph, a next-generation distributed public ledger organization, announced today that it has raised $100 million from institutional and high net worth individual investors to further the development and use of the Hedera public distributed ledger platform and network. Hedera plans to launch the network and start giving early access to some partners within the next month, with numerous distributed applications already being developed for the platform.
"We are seeing tremendous demand for our fast, fair, and secure public network," said Mance Harmon, co-founder and CEO of Hedera. "With this funding, we will be able to accelerate development of key services to be provided by Hedera – including a cryptocurrency, file storage service, and smart contract platform – to help make it not only what we believe is the fastest and most secure public ledger available, but also the most feature-rich for developers looking to build highly decentralized apps."
"Hedera hashgraph is one of the most exciting projects in cryptocurrency from an engineering perspective. In addition, the experienced team and the advances they have made to date in developing a functioning network make them a standout in the distributed ledger market," said Ari Paul, Chief Investment Officer and Managing Partner of BlockTower Capital, and Hedera investor. "We are pleased to support them as they roll out the next phase of their development, and as interest grows around their network launch."
"As we come close to completing initial development of the Hedera network, we are pleased to be opening our crowdsale to the community - without whose support we would not be where we are today - under the same terms offered to institutional investors in this funding round," said Tom Trowbridge, President of Hedera. "These are the same terms under which management and employees have invested over $10 million in the most recent round. Separately, the majority of the tokens granted to the co-founders vest in four to six years. This clearly demonstrates our long-term belief in, and commitment to the growth of Hedera."
Hedera is building a strong, global community of developers and advocates who are attracted to the speed, security, and scalability benefits of the hashgraph technology. To date, almost 200 Hedera Hashgraph ambassadors have run more than 80 meetups in cities around the world, reaching more than 5,000 attendees.
"We are excited to be on the cusp of launching our network," said Dr. Leemon Baird, co-founder and Chief Scientist of Hedera. "We are grateful for the commitments of our investors and employees, as well as the strong support we continue to receive from the community. In addition, we want to acknowledge the incredible role the developer community has and will continue to play in our growth, and we will be providing opportunities for developers to earn tokens as we roll out the network throughout the year."
Hedera today announced it will be conducting an accredited investor crowdsale, targeted at raising $20 million. The accredited investor verification process opens today and will close when the target is reached, or August 15th, whichever comes earlier. As a U.S.-based company, the offering will be conducted in accordance with SEC regulations as a private placement pursuant to Rule 506(c). Details can only be found by typing in hederahashgraph[dot]com, and no solicitations will be made over social networking channels such as Telegram, Facebook, Twitter, etc. For more information on the crowdsale, token distribution, and economics, please visit hederahashgraph[dot]com.
Hedera18 Developer Conference
Hedera18, the inaugural hashgraph developer conference, will be hosted in Dallas, TX from October 15-17th, 2018. A global hackathon will take place at the same time in Dallas, Tel Aviv, London, Singapore, and São Paulo. Visit https://www.hedera18.com for more details.
The Hedera hashgraph platform will offer a distributed public ledger that enables anyone to easily develop globally decentralized applications. Developers can build secure, fair, blazing-fast decentralized applications on top of the Hedera hashgraph platform. For more information, visit https://hederahashgraph.com, or follow us on Twitter at @hashgraph, Telegram at t.me/hashgraph, or Discord at https://hashgraph.com/discord. The Hedera whitepaper can be found at https://hederahashgraph.com/whitepaper.
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