Participated · Series B · Apr 2018

Kadena is a NYC-based blockchain platform provider led by William Martino and Stuart Popejoy. Its core product pairs the Pact smart contract language with Chainweb, a parallel-chain protocol designed to deliver throughput thousands of times faster than other public networks. The company offers a shared technology stack for both public and private deployments, enabling hybrid business models with tiered public offerings for small businesses and enterprise licenses for private blockchain use. In 2016 Kadena began offering a private blockchain protocol that is currently used by a Fortune 100 healthcare company. The company intends to use the $12M Series B SAFT financing to develop a new enterprise-grade public blockchain capable of processing over 10,000 transactions per second. The funding is aimed at addressing speed, scalability, and security constraints that have limited public chains like Ethereum and Bitcoin. Kadena is a NYC-based smart-contract blockchain platform co-founded by Stuart Popejoy and William Martino. It has developed Chainweb, a parallel-chain public protocol designed to push transaction speeds to 10,000 transactions per second and beyond without sacrificing assurance. The company also operates a private, secure blockchain currently used by a Fortune 100 company in healthcare and insurance. Kadena plans to use Chainweb in a public blockchain to support a new digital currency and utility token, which is under development and expected to launch by the end of 2018. The company raised $2.25M in a private-placement pre-A SAFT round and will use the funds to develop its new public blockchain. Major investors in the round included Metastable, Kilowatt Capital, Coinfund and Multicoin Capital.