Hedera Hashgraph, a next-generation distributed public ledger organization, announced today that it has raised $100 million from institutional and high net worth individual investors to further the development and use of the Hedera public distributed ledger platform and network. Hedera plans to launch the network and start giving early access to some partners within the next month, with numerous distributed applications already being developed for the platform.
Hedera is building a strong, global community of developers and advocates who are attracted to the speed, security, and scalability benefits of the hashgraph technology. To date, almost 200 Hedera Hashgraph ambassadors have run more than 80 meetups in cities around the world, reaching more than 5,000 attendees.
[perfectpullquote align=”full” bordertop=”false” cite=”Mance Harmon, co-founder, and CEO of Hedera” link=”” color=”” class=”” size=””]“We are seeing tremendous demand for our fast, fair, and secure public network. With this funding, we will be able to accelerate development of key services to be provided by Hedera – including a cryptocurrency, file storage service, and smart contract platform – to help make it not only what we believe is the fastest and most secure public ledger available, but also the most feature-rich for developers looking to build highly decentralized apps.”[/perfectpullquote]
[perfectpullquote align=”full” bordertop=”false” cite=”Ari Paul, Chief Investment Officer and Managing Partner of BlockTower Capital, and Hedera investor” link=”” color=”” class=”” size=””]“Hedera hashgraph is one of the most exciting projects in cryptocurrency from an engineering perspective. In addition, the experienced team and the advances they have made to date in developing a functioning network make them a standout in the distributed ledger market. We are pleased to support them as they roll out the next phase of their development, and as interest grows around their network launch.”[/perfectpullquote]
[perfectpullquote align=”full” bordertop=”false” cite=”Tom Trowbridge, President of Hedera” link=”” color=”” class=”” size=””]“As we come close to completing initial development of the Hedera network, we are pleased to be opening our crowdsale to the community – without whose support we would not be where we are today – under the same terms offered to institutional investors in this funding round. These are the same terms under which management and employees have invested over $10 million in the most recent round. Separately, the majority of the tokens granted to the co-founders vest in four to six years. This clearly demonstrates our long-term belief in and commitment to the growth of Hedera.”[/perfectpullquote]
[perfectpullquote align=”full” bordertop=”false” cite=”Dr. Leemon Baird, co-founder and Chief Scientist of Hedera” link=”” color=”” class=”” size=””]“We are excited to be on the cusp of launching our network. We are grateful for the commitments of our investors and employees, as well as the strong support we continue to receive from the community. In addition, we want to acknowledge the incredible role the developer community has and will continue to play in our growth, and we will be providing opportunities for developers to earn tokens as we roll out the network throughout the year.”[/perfectpullquote]
Hedera further announced it will be conducting an accredited investor crowdsale, targeted at raising $20 million. The accredited investor verification process opens today and will close when the target is reached, or August 15th, whichever comes earlier. As a U.S.-based company, the offering will be conducted in accordance with SEC regulations as a private placement pursuant to Rule 506(c).
Will there be an AirDrop?
At this time, there is no AirDrop planned. Hedera is developing a testing program where the community will be able to earn tokens for testing the network.
Are there any approved investment pools?
There are no approved investment pools and Hedera does not condone the participation in such pools. Any investment applicants discovered to be pools with non-accredited investors will be banned from participation.
What are the minimum and maximum investment?
The minimum investment per person is $1,000 and the maximum is $250,000.
Can I invest using fiat?
Yes. Once through KYC/AML and accreditation checks, you will receive instructions on how to invest.
How much did management invest?
Management and almost two-thirds of employees invested over $10m in the most recent round.
What are the investment terms?
We are offering tokens at $0.12, which implies a $600m valuation based on expected 10% circulating supply in year one and $6bn based on total supply. This is the same price that our institutional investors paid and the same price paid by management and employees who invested over $10m in this round.