Blockstack, a New York-based blockchain company, has announced that it has raised $4 million in new funding round to contribute more resources to the Blockstack open source community.

According to the official announcement, the funding round was led by Union Square Ventures, with participation by Lux Capital, Naval Ravikant, Digital Currency Group, Compound, Version One, Kal Vepuri and Rising Tide.

“This is a huge vote of confidence for the new decentralized internet. These investors share our vision and we’re proud to be able to partner with them”, it said.

Co-founders Ryan Shea and Muneeb Ali said that the Blockstack community is currently working towards the release of a new browser and app development platform that will allow anyone to use the new decentralized internet and the apps that are built on it. They said that the new funding round will enable them to expand the team and contribute more development resources to the Blockstack open source project.

Founded in 2013, Blockstack started off with a decentralized identity system putting users in control. Since then, Blockstack has expanded into a full platform for decentralized applications, providing services beyond just identity, including DNS/naming, storage and authentication. It describes itself as a new internet for decentralized, server-less applications.

Last month, the company announced that users can now seamlessly deploy Blockstack Core nodes on Microsoft Azure. Blockstack Core nodes provide the core functionality of the Blockstack stack, processing data from a standard blockchain layer to construct a global view of security and ownership mappings.