Today, the Circle bitcoin team announced that the company has closed its Series B round of financing. Circle’s existing investors include Breyer Capital, Accel Partners, General Catalyst Partners, and Oak Investment Partners.
The company’s second round of funding also included investors from Pantera Capital Management, SecondMarket, the Bitcoin Opportunity Fund and the Bitcoin Investment Trust, just to name a few. In addition to its Series B fund, Circle was able to raise a total of $26 million to date.
At the closing of the Series B financial round, Circle raked in $17 million.
Additionally, the company announced its plan to start a limited release of initial consumer products, which will be available to select users later this year. Users must request an invite to gain access.
On behalf of the company’s new platform, founder and CEO of Circle Internet Financial, Jeremy Allaire, said:
“We are thrilled to have such a strong showing of support and vote of confidence from world-class investors and strategic individuals as we move into the commercial phase of Circle. With accelerating consumer and business interest in digital currency all around the world, it’s critical that we have the capital and leadership team to execute on our vision for consumer finance and global payments built on Bitcoin.
Series A Financial Round
In October 2013, Circle launched with a $9 million Series A investment from Breyer Capital, Accel Partners and General Catalyst Partners. After the success of the first round, its clear to see why the same investors stuck around for Series B, as well as the joining of other investment firms.
The list of Circle believers doesn’t stop there. Mike Hearn and American Express vice president Michael Barrett joined the Circle team back in January. The two men are official members of the company’s advisory board. Hearn and Barret are the first to be appointed by the Boston, Massachusetts based company.
Allaire’s company has definitely been gaining momentum during the first quarter of 2014. As more powerful investors and supporters contribute to Circle, the company will move on to further produce for bitcoin.
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