Algorand Secures $62M in Funding and Announces Appointment of Executive Team
Algorand, a first-of-its-kind blockchain and cryptocurrency purpose built for business, announced today the closure of a $62M equity investment and the addition of senior executive hires from leading global technology brands. Steve Kokinos, co-founder and Chairman at Fuze, and W. Sean Ford, co-founder of uPromise and former CMO of LogMeIn, join Algorand as CEO and COO, respectively. The $62M comes from a broad global investment group representing the venture capital, cryptocurrency, and financial services communities. The funding, combined with the executive hires, will help launch the revolutionary blockchain protocol designed by MIT’s Silvio Micali.
“At USV we believe that foundational innovation is required to deliver on the promise of blockchain technology,” said Albert Wenger, managing partner at Union Square Ventures. “Algorand is building a crucial part of that with their novel consensus algorithm that solves for security, decentralization and scalability.”
“Algorand is a company uniquely approaching the blockchain and cryptocurrency space from both a technology and business perspective,” said Jamie Goldstein, founding partner, Pillar Venture Capital. “Silvio Micali is an award-winning cryptographer, and the technology he and his team have developed has the potential to transform industries. With the addition of Steve and Sean, he is now joined by a senior leadership team that has deep expertise in building enterprise companies at scale.”
“We have been developing Algorand as a technology for several years with the ultimate goal of creating a business-ready protocol for a truly global and decentralized economy,” said Silvio Micali, Algorand founder, MIT computer science professor and Turing Award winner. “Our team of scientists is comprised of some of the most accomplished minds in cryptography, theory, and finance, and we are very excited to add the proven business acumen we need to help bring our protocol to market.”
Bringing a combined 40+ years of proven technology experience in leading disruptive brands, Kokinos and Ford offer deep and unique expertise in driving the growth of innovative tech companies. A serial entrepreneur, Kokinos has founded and grown three successful companies – Fuze, BladeLogic, and WebYes, Inc. while Ford has built a reputation for operational execution and go-to-market expertise at a variety of tech companies including uPromise, Oracle and LogMeIn.
Based in Boston, and founded by cryptography pioneer and Turing award winner Silvio Micali, Algorand solves the “blockchain trilemma” with a platform that delivers decentralization, scalability and security. Algorand provides a foundation for existing businesses and new projects to operate globally in the emerging decentralized economy. Algorand’s first-of-its-kind, permissionless, pure proof-of-stake protocol supports the scale, open participation, and transaction finality required to build systems for billions of users.
For more information, visit https://www.algorand.com/.
Samantha Powers, 617-960-8896
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
PMI Among Elite Group of Companies to Score A for Climate Change23.1.2019 15:00 | Tiedote
Philip Morris International Inc. (PMI) (NYSE: PM) has been highlighted as a global leader on corporate climate action by environmental impact nonprofit CDP, achieving a place on the CDP Climate Change A List for the fifth consecutive year. As the only tobacco company to have scored an A, PMI has been recognized for cutting emissions, mitigating climate risks and developing the low-carbon economy, based on its 2018 disclosure to CDP. “Climate change is one of major concerns for humanity, and companies can make a difference. Just like we are leading our industry’s transformation toward a smoke-free future, we are focused on bettering every part of our business and supply chain to become a leader in sustainable business practices,” said André Calantzopoulos, Chief Executive Officer, PMI. The company’s efforts to reduce the environmental footprint of its operations focus on sustainable design in new facilities, energy efficiency in manufacturing processes, greener purchasing of electricity
STEMCELL Technologies Launches mTeSR™ Plus, a Next-Generation Culture System for Human ES and iPS Cell Maintenance23.1.2019 14:00 | Tiedote
STEMCELL Technologies has released mTeSR™ Plus, an enhanced version of mTeSR™1, the most widely published feeder-free human pluripotent stem cell (hPSC) maintenance medium. The new medium has undergone successful beta testing with several members of the Stem Cell COREdinates group and has completed rigorous in-house validation testing. Designed to promote a more consistent cell culture environment through sustained medium pH and stabilized components including FGF2, mTeSR™ Plus prevents the rapid onset of acidosis. This helps avoid conditions that have been associated with DNA damage, genomic instability, and growth arrest in hPSCs. The stabilization enhancements allow for greater hPSC expansion rates, enhanced culture morphology, and truly versatile feeding schedules including the option to skip weekends. “With the launch of mTeSR™ Plus, STEMCELL is positioned to set new industry standards in the pluripotent stem cell research field,” says Dr. Allen Eaves, President and CEO of STEMCEL
REPLY Study on Artificial Intelligence: Quo vadis, AI?23.1.2019 13:00 | Tiedote
Artificial intelligence enable machines to better understand the surrounding context, giving them the ability to recognise sight, sound and speech. This is made possible by machine learning algorithms. A current study by Reply, conducted with the trend platform SONAR, shows which trends are still relevant in this area. The study highlights some aspects of the future potential of Artificial Intelligence (AI). Complex algorithms, Edge Computing tools that reduce latency periods and AI-specific hardware are yielding many new products and services for mobile computing, the Internet of Things (IoT) and Human-machine Interfaces. There are many different possible scenarios, and three trends play a major role in determining AI’s future as a game changer: AI-driven analytics In the era of digital transformation, decisions are made based on data with the help of predictive analytics. Companies in diverse industries use AI-as-a-service solutions from established providers or start-ups and increas
GSMA Announces Nominees for 2019 GLOMO Awards23.1.2019 12:00 | Tiedote
The GSMA today announced the nominees for the Global Mobile Awards 2019 (GLOMO Awards). Winners of the awards will be presented throughout MWC19 Barcelona, which takes place 25 - 28 February. The full list of nominees can be found at www.mwcbarcelona.com/conference-programmes/global-mobile-awards/global-mobile-awards-2019-nominee-shortlist/. “The GLOMOs provide a world stage on which to celebrate the most inspirational and innovative developments across our industry, recognising the companies and individuals leading the way in everything from 5G, to emerging markets, to intelligent connectivity,” said John Hoffman, CEO, GSMA Ltd. “The awards attract a significant level of high-quality entries, so being nominated today is a great achievement. We wish everyone the very best of luck and we look forward to some exciting announcements at MWC19 Barcelona.” The GLOMO Awards feature an afternoon ceremony at 16:30 CET on Tuesday, 26 February in Auditorium 5, Hall 4, and will include the present
Y Analytics Launches to Bring Together Capital and Research for Good23.1.2019 11:58 | Tiedote
Today marks the launch of Y Analytics, a new, independent organization established to drive increased and more effective investment in creating social and environmental good by equipping capital allocators with the research basis to effectively understand the impact of their decisions. The organization, headquartered in Washington, D.C. and led by Maryanne Hancock, will help bridge the divide between the research community and capital allocators. Ultimately, this will ensure that capital directed at addressing the United Nations Sustainable Development Goals is used most efficiently, and more broadly, that we advance our abilities to direct capitalism towards solutions that have the potential to create real, tangible impact. From Maryanne Hancock, CEO of Y Analytics: “We are building on the extensive effort of others, who have worked for decades to advance the world’s understanding of what creates impact. Y Analytics is built on the premise of learning from their work, utilizing resear
SpeeDx Increase European Distribution Network23.1.2019 11:00 | Tiedote
SpeeDx have announced signing two new distribution partners, creating comprehensive access for customers to market-leading SpeeDx ResistancePlus ® and PlexPCR ® tests across Europe. AB ANALITICA will distribute throughout Italy and Immuno Diagnostic Oy will cover Finland. “Our new distribution partners have strong sales presence in their regions and close working relationships with the key customers that are interested in our solutions,” says Colin Denver, SpeeDx CEO. “Antibiotic resistance in sexually transmitted diseases is a top concern for authorities and testing bodies across Europe, and now more laboratories can access our ResistancePlus tests for Mycoplasma genitalium and gonorrhoea to help address the real need for Resistance Guided Therapy.” The SpeeDx ResistancePlus portfolio includes ResistancePlus GC* (CE-IVD) - the first commercially available test that combines Neisseria gonorrhoeae (GC) detection with markers for ciprofloxacin susceptibility. ResistancePlus GC enables st
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme