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Altr raises $15 million to use blockchain for cybersecurity

In the News / By Venture Beat / Jun 07, 2018

The Austin, Texas-based company built its platform on Altr-chain, currently the only high-performance, enterprise-grade blockchain technology for ultra-secure data access and storage and also the technology that has led ALTR to racking up over $15 million to use for blockchain development.

Summary

Amid rising adoption of the cloud and micro-services, native mobile apps, and the internet of things, new threat vectors to data are continually emerging — and cybercrime is predicted to have an $8 trillion impact on the global economy by 2022. The company raised its funding from institutional and private sources in the cybersecurity, IT, and financial services industries, including participation by angel John Stafford, CEO of Ronin Capital. The funds will be used to extend the Altr platform’s reach into the enterprise and bring additional Altrchain-based products and solutions to market.


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