Factom closes $8M+ Series A round extended after Harmony product launch

Factom logo from file

Austin, Texas-based blockchain as-a-service (BaaS) technology company Factom, Inc. announced in a press release CoinReport received closing of its Series A funding round at $8,029,796. The round was extended following the launch of the company’s mortgage product, Factom Harmony.

Peter Kirby, co-founder and CEO of Factom, said in the release, “The Factom Harmony launch was such a resounding success that we extended the Series A round for additional investors.”

“We’re very appreciative of our early investors who doubled-down on their participation and the new investors who are helping us strategically extend our reach. Many highly intelligent people worked very hard to help us get to this point and we couldn’t have done it without them.”

Earlier during the round, the firm closed $5,326,522 in backing from Plug & Play, Draper Associates, Overstock, Stewart Title and Fenbushi Capital. Now, Harvest Equity, Peeli Ventures and several local Austin investors added another $2,703,274.

Peeli Ventures managing partner Harry Qin commented, “Factom’s Harmony product creates a transformative approach for the compliance in the U.S. mortgage industry. It has great potential to impact the mortgage industry with increased transparency and immutable audit records.”

Factom logo courtesy of the company for a previous article