Authtrail, a Skofja Loka, Slovenia-based Blockchain-based data integrity SaaS platform, completed $3.6 million in its latest funding round from a consortium of investors and venture capital firms.
The team intends to use the funds raised for the following stages of development of their product and growing the business. But, first, they aim to be a household name for enterprise data in the world.
Additionally, Authtrail plans to invest in expanding the data integrity market through grants to developers, startups, and entrepreneurs building new tools and solutions through the Authtrail LaunchHub.
Company: Authtrail Pte. Ltd.
Funding Month: December 2021
Lead Investors: undisclosed
Additional Investors: undisclosed
Company Website: https://authtrail.com/
Software Category: data integrity SaaS platform
About the Company: Authtrail is a SaaS platform that provides contract-based integrity to business data. Authtrail is a market-ready, fast and simple data integrity platform powered by blockchain. It allows businesses to ensure data integrity with less hassle for everyone involved. Deployed on a cloud, Authtrail stores data and periodically anchors its fingerprints to the blockchain. This way, it ensures data integrity while increasing performance and decreasing transaction costs. The platform was founded by three friends, Tadej Vengust (CTO), Matjaž Sobočan (CEO), and Domen Uršič (CMO), in 2020 as a spinoff from Kalmia. Authtrail has since grown its roster of enterprise clients looking for high-quality data that they can monetize and use to improve their businesses. As a result, the platform has attracted significant interest from clients in different industries, including a company that is part of a multinational group employing 6,000 people in 30 countries.