Bitcoin API Startup Gem Raises Funding Total to $3.3 Million

money funding

Californian bitcoin API developer Gem has announced an additional $1.3m in funding, raising its total to $3.3m.

The round was led by KEC Ventures, with additional contributions from First Round Capital, RRE Ventures – also an investor in 21 Inc and Abra – and early Facebook investor Robert Wolfson, among others.

Gem closed its previous round in September last year after receiving funds from Mesa Ventures, Idealab, James Joaquin and Brock Pierce’s investment firm, Crypto Currency Partners.

A spokesperson for the platform said the newly acquired funds would be used to accelerate feature development and scale Gem’s services for developers worldwide.

Multi-sig wallet 

Gem’s funding coincides with the launch of its multi-signature wallet API, which is now publicly available following a series of improvements.

Approximately 40% of people using Gem’s API are from outside the United States – dispersed throughout Europe, Asia and South America. The new API aims to ease integration for this worldwide user base, while providing added security measures to protect bitcoin wallets and keys.

Ken Miller, COO at Gem, said the security improvements had

Read more ... source: CoinDesk