Libra Association founding member Bison Trails has raised $25.5 million to expand its business of providing the digital infrastructure on which blockchains rely.
Founded by former Etsy executives Joe Lallouz and Aaron Henshaw, the Brooklyn-based, blockchain infrastructure-as-a-service provider builds and manages nodes for companies including Ethereum, Cosmos, Decred, Tezos, Dfinity, Filecoin, and Orchid, as well as the Facebook-founded Libra Association.
In the eight months since it raised $5.3 million in seed funding, Bison Trails has “become the easiest way to run infrastructure on multiple blockchains,” Lallouz said in a statement. “[We] have helped the world’s leading protocols, companies, and builders launch and manage secure, highly-available, and geographically distributed nodes on blockchain networks.”
Blockchain Capital led the Series A funding round announced on November 19.
The firm decided to invest in Bison Trails because the timing was right, said Brad Stephens, the San Francisco-based venture capital firm’s co-founder and managing partner.
“A lot of the proof of stake networks that were theoretical last year are finally going live,” he said. “We had all these very hyped networks that people have been extremely excited about, but they were all white papers and under development. Now they’re all launching. Now’s the time where we believe Bison Trails can come in and really help manage true distribution with lots of different node owners. It’s not easy, people don’t understand it. Each one is different [and] they all have their own demands. You need a specialized group to come in and be the Amazon Web Services of managing nodes for the launch of all these networks.”