SIMBA Chain closes $1.5 Million Seed Investment Round, Sets Stage for Strategic Growth in 2020
South Bend, Ind., January 13, 2020 (Newswire.com) – SIMBA Chain, a Cloud-based, smart-contract-as-a-service (SCaas) platform that enables users to rapidly implement decentralized applications (dapps) for blockchain announced today that it has closed a $1.5 million seed financing round with leading venture capital and angel investors. The round closed in late December 2019.
Participating in the round are Notre Dame’s Pit Road Fund, Elevate Ventures, First Source Capital, and individual angel investors. The funding will be used to hire additional sales and development personnel to accelerate market rollout and support initial execution of a number of major government contracts, including one with the U.S. Air Force to secure its supply chain on battlefields and at home. Serial entrepreneur Joel Neidig, who co-founded SIMBA Chain with University of Notre Dame faculty members Ian Taylor and Jarek Nabrzyski, leads the company as CEO. Taylor is SIMBA Chain’s CTO, while Nabrzyski is a board member.
“SIMBA Chain was created so government and corporate entities can address the growing global threat to IT security posed by international ‘bad actors’ as well as individual hackers using blockchain. Our platform makes it simple for people with varying skillsets to quickly deploy dapps by auto-generating custom API that is not dependent on a single blockchain or distributed ledger technology,” Neidig explains. “SIMBA Chain’s democratization of blockchain enables more organizations to eliminate the vulnerability of a single point of failure inherent in current IT enterprises by creating an immutable repository where once data is stored, it can’t be tampered with, changed or deleted.”