Amboss, a Portland, Oregon-based data analytics company for the Bitcoin Lightning Network, announced that it raised $4 million in seed funding.
The round was led by Stillmark, a Bitcoin-native VC, with participation from such VCs as Valor Equity Partners, Draper Associates, Fulgur Ventures, and Ride Wave Ventures.
The new funding will bolster the company's efforts in AI research and product development. By leveraging AI and machine learning, Amboss can add intelligent decision-making tools to its product offering that will help drive node and channel management automation.
Jesse Shrader, co-founder, and CEO of Amboss, remarked, "The data analytics platform we’ve built with Amboss showcases the many advantages of the Lightning Network as a community-controlled financial system. Our drive to optimize payments with machine learning has attracted strategic investors who understand Lightning’s significant disruptive potential and our role in perfecting global payments.”
The company has pioneered incorporating a social layer into its platform, featuring community groups, message boards, reputational scoring, and social sharing.
Amboss bolsters its communities with its “Magma” marketplace, kick-starting a way for Lightning users to earn bitcoin yield from savings without relinquishing custody.
Company: Amboss Technologies, Inc.
Raised: $4.0M
Round: Seed Round
Funding Month: April 2023
Lead Investors: Stillmark
Additional Investors: Valor Equity Partners, Draper Associates, Fulgur Ventures, and Ride Wave Ventures
Company Website: https://amboss.space/
Software Category: Network Monitoring Software
About the Company: Amboss is a data analytics provider for the Bitcoin Lightning Network, using machine learning to offer optimized routing and tools that redefine the future of decentralized finance. Amboss supports merchants and consumers to identify optimal peers and payment routes based on cost, reliability, or reputation as well as enterprise-grade risk management. Amboss also operates Magma, the leading marketplace for buying and selling Lightning channels that is the only platform to enable users to earn bitcoin yield from savings without relinquishing custody.
Source: https://www.prweb.com/releases/amboss_technologies_raises_4m_led_by_stillmark_to_optimize_the_bitcoin_lightning_network_as_the_financial_system_of_the_future/prweb19302793.htm