SABR, “Palantir for the blockchain”

SABR is a New York-based startup that has just raised $1 million to fulfil its stated mission to “to provide law enforcement with a view beneath the surface of multiple blockchains. SABR aims to ensure that bitcoin and other digital currencies are not utilized for illicit purposes.”

– SABR

Recently SABR debuted as one of 42 accelerated startups in the latest round from 500 startups, a Silicon Valley accelerator group founded by alumni from both PayPal and Google. The company attracts attention for their member presentations from a “ badass, global family of startup founders, mentors, and investors.”

SABR received both funding and accelerated training from 500 Startups, and had previously received seed money from Barry Silbert’s Digital Currency Group (DCG).

Silbert, the founder of the DCG and Bitcoin Investment Trust, has been a constant positive influence on the bitcoin ecosystem. He started by adding Bitcoin funds to Genesis trading, formerly SecondMarket, which he founded in 2004. SecondMarket was one of the first institutional options for traders looking to invest to bitcoins, without having to deal directly with the digital currency.

Silbert’s DCG has made investments in over 40 of the largest companies in Bitcoin today, including BitGo, BitPay, BitPagos, BitPesa, Chain, Circle, Coinbase, Gyft, Kraken, Ripple Labs, TradeBlock, Unocoin and Xapo. However, he is perhaps most famous for purchasing 48,000 bitcoins for SecondMarket in a US Marshall service auction of seized Silk Road coins.

According to VentureBeat’s reporting on the 500 startups event, SABR has “attracted the attention of the U.S. Department of Justice, the White House, and other federal agencies.”

Originally appeared at: http://bravenewcoin.com/news/sabr-palantir-for-the-blockchain/