Blockchain company BlocWatch locates in Reno and receives over $700k in investment from the Reno Seed Fund.
RENO, Nevada (Sep. 5, 2019) – The Economic Development Authority of Western Nevada (EDAWN) announced that BlocWatch, a blockchain monitoring and management platform, is establishing its co-headquarters in Reno, with the aid of an investment received from the Reno Seed Fund (RSF). The fund raised and co-invested $730k of the $6 million seed round preferred stock.
“While successfully building multiple software companies, we have come to appreciate the unique advantages provided by locating in a market such as Reno,” said Aaron Klein, CEO/Co-founder of BlocWatch. “Not only are Reno’s employer costs fractional when compared to San Francisco, Seattle, or New York City, but it also provides a talented workforce, affordable housing, and a supportive community. We relish the opportunity to build BlocWatch while our current and future employees enjoy the advantages of living in Reno and its surrounding areas.”
“On the heels of local blockchain companies such as Blockchains, LLC and Filament, Inc, BlocWatch, with their strong technical team and demonstrated history of execution, is a welcome addition into the Northern Nevada ecosystem,” said Gene Wong, the RSF Managing Partner. “RSF is proud to provide both local investor support, advice and local enterprise customer relationships to BlocWatch.”
“We are thrilled to see our entrepreneurial ecosystem grow with the addition of an exciting new company like BlocWatch,” said Mike Kazmierski, President and CEO of EDAWN. “With some help from the newly established Reno Seed Fund, and the overwhelming support and engagement by the entrepreneurial community, amazing new companies like BlocWatch now see Reno-Sparks as a place to create the next generation of jobs. It’s a special endorsement to see serial entrepreneurs choosing Reno, especially in new growth industries like blockchain technology.”
BlocWatch Inc., founded in 2018, provides comprehensive software for performance, health and security monitoring for managing permissioned and public blockchain implementations. BlocMonitor automatically filters, sorts and channels the torrents of data streaming toward you, allowing you to maintain visibility, monitor chain health, identify suspicious actors, alert on significant activity and much more. BlocTrust provides independent third-party validation and attestation to provide customer assurance and ensure compliance satisfaction. For more information, please visit us at www.blocwatch.com or email us at firstname.lastname@example.org
The Economic Development Authority of Western Nevada is a private/public partnership established in 1983 committed to adding quality jobs to the region by recruiting new companies, supporting the success of existing companies, and assisting newly forming companies, to diversify the economy and have a positive impact on the quality of life in Greater Reno-Sparks.
About Reno Seed Fund
The Reno Seed Fund promotes and supports economic development in the region by investing in early-stage companies and emphasizing the Northern Nevada region and its local strengths.
Katie Romanko, EDAWN
Manager of Entrepreneurial Development