Austin-based SeriesX Raises $2 Million in Funding for its Platform Built on the Ethereum Blockchain

Dave Hendricks, Founder and CEO of SeriesX, courtesy photo

SeriesX, a startup based at Capital Factory, announced Wednesday that it has closed on two rounds of funding, totalling $2 million.

The Austin-based company plans to use the money to further develop its customer relationship management platform, Vertalo, which is built using Ethereum blockchain technology. It also plans to add to its technical team.

The company’s investors include Shasta Ventures, Next Coast Ventures, Capital Factory Fund 5, Yeoman’s Capital, Hampstead Park Capital, Rigel Asset Holdings, Array.VC, 11-11 Ventures, and Insiders.

In March, the company was a runner up in Capital Factory’s 100K Blockchain Challenge at South by Southwest.

“The emergence of the Security Token Offering is the next phase of the democratization of investment and investor liquidity. As organizations continue to evolve and decentralize, maintaining connections and contracts with stakeholders is becoming more challenging, and more important,” Dave Hendricks, SeriesX CEO, said in a news release.

“SeriesX and Vertalo are a perfect fit for our portfolio as part of our strategy to invest in impactful blockchain businesses,” Nitin Chopra, partner at Shasta Ventures, said in a news release. “We are convinced Vertalo and its unique model will contribute significantly to the coming convergence of HR and Fintech. As the tokenization of cap tables and hard assets become a global phenomenon, I look forward to advising the team to help transform the world of work and finance.”

SeriesX plans to launch Vertalo later this year.

Speak Your Mind

*