After $3.5 Million, Cere Network Raises Additional $1.5 Million

Cere Network announced an additional $1.5 million investment round to launch its enterprise data cloud platform (DDC) on top of its tools.

Lead investors in this strategic raise include Arrington XRP Capital, QCP Capital, Kinetic Capital Company Ltd, Monday Capital, and AU21 Capital, all of whom participated in the previous $3.5 million round, which included Binance Labs, Fenbushi Capital, and Neo Global Capital Pte Ltd.

The DDC platform is initially launching on the Polkadot blockchain to allow scalability across multiple blockchains.

“For years, the same major tech companies – including Amazon, Google, Microsoft, and Salesforce – have been holding consumer data hostage,” said Fred Jin, CEO. “Clients who store their customer data with these companies often-times are effectively locked in with these vendors, and are forced to continually pay more to further handcuff themselves to these data silos. The DDC platform  gives businesses back ownership of their data and allows them to quickly build up their own customer data ecosystems.”

The DDC platform establishes a more secure first-party data foundation in the cloud by using blockchain identity and data encryption to onboard and segment individual consumer data. This data is then automated into customizable and interoperable virtual datasets, directly accessible in near real-time by all business units, partners/vendors, and machine-learning processes. Secure and private data collaborations are enabled through Cere’s Open Data Marketplace and free from vendor lock-ins. The DDC platform is being made available natively to all other Polkadot ecosystem projects in addition to Cere’s existing client base which includes a number of Fortune 1000 enterprises.

“We are excited to see Cere innovating along the same vision of interoperable ecosystems to foster the next gen of DeFi and blockchain adoption,” Dieter Fishbein, head of ecosystem development for Polkadot and the Web3 Foundation. “The value and opportunity of agile and highly customizable cloud data integrations has been reinforced by the success of Snowflake, which recently completed the biggest software IPO in history. We see that the DDC platform can be extended to solutions which are being built on top of other Polkadot/Substrate chains as we speak.”

Cere Network was founded in 2009 by former executives from Amazon, Twitch, D-Link, and Bebo. The company is headquartered in San Francisco, CA, with offices in New York, NY, and Berlin, Germany.