SAN FRANCISCO — Chronicled, Inc. — a provider of enterprise blockchain-powered supply chain ecosystems with built-in trust, automation, and privacy — announced today that it has raised $16 million in Series A funding. The round was led by Mandra Capital, with participation from Streamlined Ventures, The Perkins Fund, Frank Fiore, and David Aho.
Chronicled is currently piloting the MediLedger Network with a group of major companies, including manufacturers, distributors, and solution providers, and it plans to launch the network commercially in 2019. This stimulus of funding will enable expansion of the MediLedger Network with service provider integrations and additional protocols that address channel integrity and chargebacks, contracting, and revenue management.
“What excites us about Chronicled is that they are building blockchain application networks for the long-term,” saidSongYi Zhang, Principal of Mandra Capital. “While many companies in the space are conducting ICOs — fueling speculation and hurting the legitimacy of the space — Chronicled has stayed disciplined and pursued traditional funding while focusing on developing needed applications with quantifiable ROI value.”
As part of its growth plans, the company is opening a development office in Vancouver, BC. Chronicled currently employs 50 people and plans to add approximately 20 employees over the next year, targeting both its San Franciscoand Vancouver locations.