Identity Startup Cambridge Blockchain Closes on $1.7m Funding Round

Identity startup Cambridge Blockchain has closed on over $1.7m in new funding, according to recently published Securities and Exchange Commission documents. As stated in today’s filing, the firm raised $1,785,000 out of possible $2m total offering amount.

Led by CEO Matthew Commons, Cambridge Blockchain’s identity management platform facilitates the identity verification of counterparties in virtual currency transactions, without requiring users to reveal their complete identity.

The firm rose to prominence in January of 2016 by claiming the $15,000 first prize at the Banco Santander InnoVentures Distributed Ledger Challenge. According to previous SEC filings, the startup closed fundraising rounds of $635,000 and $1.09m in March 2016 and October 2016, respectively.