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Blockchain startup Libra raises $7.8M in Series A round
[Correction: The second para has been edited to mention that Liberty City was one of the investor's in Libra's seed funding round]
Libra, a startup providing accounting, audit, and tax software for the blockchain and crypto industry, has secured $7.8 million in a new Series A funding round, CoinDesk reported.
The investors include seed-stage VC firm Liberty City Ventures, cryptocurrency market maker XBTO and early-stage investor Lee Linden, and an unnamed family office based in Europe. Liberty City is an existing investor in the company, having contributed to the startup's seed funding round in 2014, in which it raised $5 million.
The amount raised will be used towards the development of its Libra Enterprise Platform, Libra said in a statement. According to the official website, the platform provides “institutional-grade blockchain and cryptocurrency ecosystem connectivity, standardization, and delivery of data in a scalable, secure, and fully auditable solution.”
"Libra's vision is to be the premier provider of next-generation accounting, audit, and tax software and data services for the blockchain and cryptocurrency industry," Jake Benson, Libra's CEO, said.
Founded in 2014, Libra plans to launch ‘Libra Blockchain Audit Tools’ next year. It is an enterprise application that enables Information Systems Auditors to perform real-time, continuous auditing and monitoring of distributed ledger systems.