Canadian startup TransCrypts, founded in 2020, has successfully raised $15 million USD in seed funding to expand its blockchain-based record-keeping platform. The funding round was led by Pantera Capital and included participation from investors such as Lightspeed Faction and Alpha Edison. Notably, Mark Cuban and other previous investors also increased their investments. The company, valued at over $80 million CAD, aims to extend its services beyond employment credentials to include educational and health records in North America. TransCrypts, which operates from both San Francisco and Toronto, plans to significantly expand its Canadian team. The startup’s platform, which ensures user control over encrypted personal information, is already operational in nine countries and has recently achieved HIPAA certification in the US. TransCrypts has reported a substantial increase in revenue, supporting over 4 million users and working with more than 450 enterprise customers.
Did TransCrypts secure $20 million CAD in seed funding with Mark Cuban’s backing?
