OB1 builds OpenBazaar, a decentralized e-commerce marketplace that connects buyers and sellers directly via a peer-to-peer network rather than through centralized platforms. OpenBazaar offers secure, commission-free trade and since the updated 2.0 launch near the end of 2017, over 40,000 nodes globally have joined the network. In early 2018 the platform enabled purchases with Bitcoin Cash and Zcash, expanding payment options for users. OB1 plans to release web and mobile versions of the application and to add new trading capabilities such as making requests and buying and selling cryptocurrencies. The company is also expanding services for users, including a Verified Moderators program released this week. OB1 will use the $5m Series A to continue developing OpenBazaar and to expand adoption of the marketplace. OB1 builds and operates a peer-to-peer trade platform based on the open-source OpenBazaar software. Led by CEO Brian Hoffman, the company offers services to users on the decentralized OpenBazaar network. The platform enables participants to trade directly with each other using Bitcoin and is not controlled by any single company or organization. OB1 raised $3M to continue improving the open-source software and to grow its peer-to-peer trade community. Investors in the latest financing included BlueYard, Union Square Ventures and Andreessen Horowitz. The company previously raised a $1M seed in May 2015 from Union Square Ventures, Andreessen Horowitz and angel investor William Mougayar to build and launch OpenBazaar.

Total raised

$8M

Funding rounds

2

Latest round

Series A

Latest activity

Mar 2018