Foley & Lardner LLP represented CionDigital, an Austin, Texas-based enterprise SaaS blockchain orchestration platform, in its recently announced $12 million seed funding. Green Visor Capital and 645 Ventures co-led the round and were joined by Cota Capital, Epic Ventures, Hourglass Capital Partners, BAT Ventures, Greycroft, and Ulu Ventures.
A pioneering innovation in the FinTech and blockchain space, Cion Digital's integrated suite of applications and services will be designed to provide companies with rapid access to all the connectivity, infrastructure, and support needed to rapidly deploy blockchain-based real-time payments and financing. The platform's blockchain interoperability will simplify the complex world of crypto (custody, liquidity, settlement, compliance, off-chain optimization, etc.), providing companies with a competitive edge and the ability to quickly and seamlessly evolve their traditional finance offerings – all while minimizing development costs, infrastructure complexity, and time to market.
The capital will be used to expand R&D resources and accelerate the rollout of crypto financing and payment solutions tailored for financial services companies and retailers and to expand the capabilities of its proprietary blockchain orchestration platform for other industries.
Partner Louis Lehot led the Foley team with assistance from Associate Saige Gallop.