Sagewise, a technology company focused on building a safety net for smart contracts to enable the efficient resolution of disputes, announced it closed a $1.25 million seed round to launch and grow its technology platform.
The round was led by Wavemaker Genesis and includes strategic investments from affiliates of Ari Paul (Blocktower Capital), Miko Matsumura (Gumi Cryptos), Youbi Capital, Maja Vujinovic (Cipher Principles), Jordan Clifford (Scalar Capital), Terrence Yang (Yang Ventures) and James Sowers. These investors strengthen both Sagewise’s foothold in the smart contract arbitration arena and reinforce the growing need for secure and transparent legal transactions via distributed ledger technology.
[perfectpullquote align=”full” bordertop=”false” cite=”David Siemer, Managing Partner at Wavemaker Genesis” link=”” color=”” class=”” size=””]“The talent pool within Sagewise’s executive team and advisory board run deep, inspiring confidence not only in investors but also potential clients. We believe Sagewise’s technology fills a largely unaddressed yet critical void in the smart contract industry, and we are thrilled to contribute to the company’s growth.”[/perfectpullquote]
Co-founded by Amy Wan, Esq., an award-winning leader in legaltech, and Dan Rice, a veteran software engineering luminary, and blockchain expert, Sagewise’s software development kit (SDK) offers smart contract users a safety net, ensuring that execution of a smart contract reflects its parties’ true intent. With the Sagewise toolkit, users can mitigate variables such as the quality of smart contract coding and evolving situations via a built-in layer of smart contract monitoring, notification, freezing and dispute resolution before conflicts progress too far.
[perfectpullquote align=”full” bordertop=”false” cite=”Amy Wan, co-founder, and CEO of Sagewise” link=”” color=”” class=”” size=””]“Smart contracts are coded by developers and audited by security auditing firms, but the quality of smart contract coding and auditing varies drastically among service providers. Inevitably, this discrepancy becomes the basis for smart contract disputes, which is where Sagewise steps in to provide the infrastructure that allows the blockchain and smart contract industry to achieve transactional confidence. With this new influx of financing, we will be able to expand our offerings and hire additional staff, making our solution even more robust.”[/perfectpullquote]
First conceived of in 1994 before the rise of the distributed ledger, smart contracts have evolved from abstract concepts to viable business solutions in recent years, and are projected to grow exponentially over time. Conservatively, $100-$200 billion in value of cryptocurrency is currently held in smart contracts and on smart contract platforms like Ethereum.