Today, the blockchain data management platform Fluree announced a seed extension round of funding led by venture capital firm Engage. Fluree did not disclose the investment amount, but it said the funds would be used to expand the reach of its data management platform.
North Carolina-based Fluree is a Public Benefit Corporation. Last June, Fluree raised $4.7 million in a seed round led by 4490 Ventures. The new investment comes soon after the firm won a contract from the U.S. Air Force for a blockchain communications system.
Fluree positions itself as a Web3 data platform that provides a blockchain-based graph database. It provides permissioned access to immutable data, and as a result of the immutability, it’s possible to query for data at a specific point in time.
“Organizations have been striving to secure a data-first approach for nearly a decade, and Fluree finally brings that vision to life,” said Brian Platz, co-CEO and co-founder of Fluree. “As the semantic web continues to dissolve data silos and build a new framework for harnessing the value of information, Fluree is becoming the back-end to power that change.”
Established two years ago, Engage Ventures is backed by 11 corporations, including AT&T, Cox Enterprises, Delta Air Lines, Goldman Sachs, Intercontinental Exchange (ICE), Invesco, The Home Depot and UPS.
“Fluree is providing a transformative solution to a large problem we see in the enterprise space, rethinking data storage and management,” said Thiago Olson, managing director of Engage.