The data integrity platform Authtrail, an SaaS integrity platform based on blockchain, publicly announced the closure of the U$3.6M funds’ raising round.
The engineering team behind Authtrail are delighted to count with the strategic funds to keep resourcing the development and growth of their platform. Authtrail is, as for now, one of the few web 3.0 developments that managed to gain trust at the enterprise level.
The team now aims at positioning their name globally as the solution of choice for data integrity, and as a trustful partner for blockchain adoption on an enterprise-level. These strategic funds add fuel to the following stages of business growth.
The plan also includes investing in the Authtrail Launch Hub, which supports third party visionary developers, entrepreneurs building startups and new tools and solutions to expand the data integrity marketplace.
Authtrail is Well Funded to Grow
The immense amount of bytes being produced daily by the ecosystem of digitized organizations and enterprises creates the need for reliable data integration platforms.
Big corporations usually spend around 15-20% of their annual budget into data management solutions, being this a considerable expense impacting revenue.
Derek Yoo, PureStake’s CEO and Founder of Moonbeam explains it in his own words –
“Authtrail is a great example of leveraging open Web3 technologies to solve real-world problems for regular users. We are delighted to support the team at Authtrail in bringing Moonbeam as a solution to challenges in enterprise environments.”
Authtrail is in a manner like a portal that enables enterprise and large corporations to also operate with the security, transparency, traceability, and immutability that blockchain-based data can provide.
With Authtrail, enterprise products’ users access product and service data that is fully trustworthy, valid, and compliant with market regulations and standards .
Great Track Record of Creating Value
Authtrail was founded in 2020, born as a spin-off project from Kalmia, by the three developers Matjaž Sobočan (CEO), Tadej Vengust (CTO), and Domen Uršič (CMO) in Slovenia.
The actual need for higher quality data management is such that more enterprise clients were keen to pay special attention and adopt Authtrail’s integrity solution.
This momentum expanded its name awareness within multiple corporate clients across several industries.
A typical Authtrail’s customer profile could be a multinational corporation with 5000 headcount employees scattered in branch offices around 20 countries.
Authtrail’s team is enjoying a really good start.
A key feature behind Authtrail’s success is that it is based on the leading parachain Moonbeam network, over the Polkadot blockchain. Moonbeam is known for high efficiency and low gas fees compared to more platforms.
Authtrail works in a subtle way that won’t disable an existing workflow.
According to a Press Release,
Enterprise customers don’t suffer any disruption of their fundamental operating mode because Authtrail operates as an add-on over all the existing data management systems within the network. Authtrail’s API compiles from databases and apps the data that then gets verified, hashed and anchored on the Moonbeam parachain, powered by the Polkadot blockchain. By just sharing a simple internet link, authorized users can check the veracity of the data utilizing blockchain technology.
Matjaz Sobocan, Authtrail’s CEO, further explains – ‘’Backed by several Angels and multiple VCs, Authtrail will help companies leverage higher quality data, equipped with integrity, as they implement blockchain technology into daily operations seamlessly and at a low cost’’.
Authtrail’s Value Creation Engine
Any big corporation adopting blockchain technology and providing web 3.0 solutions as part of their product/service to its customers, clearly becomes a spearhead towards a new competitive edge.
The ability to access relevant trustfull data for customers, partners, auditors and more, verified by Authtrial, improves the corporation’s productivity opening the door to new growth opportunities.
In a nutshell, Authtrail interconnects highly-valuable enterprise data with the power of blockchain technology. Traceability, transparency and efficiency is the tipping point for the new data era.