Overstock’s Medici Ventures Puts $2M Into Blockchain ID Systems Startup1 min read
According to a press release on Sept. 26, Medici Ventures has invested $2 million into Evernym. The investment was done via the company’s Simple Agreement for Future Equity (SAFE) and have closed funding round on Sept. 4, 2019. The SAFE will also allow Medici to convert their investment into preferred stock in Evernym’s future priced round of equity financing.
Evernym is planning to allocate the investment to continue to bring blockchain-based identity products into production. These products are the creation of a decentralized ecosystem of digital credentials and blockchain-based self-sovereign identity networks.
Medici Ventures President and recently appointed Overstock.com CEO, Jonathan Johnson commented:
“Evernym’s platform allows every person, organization, and connected thing to have an independent identity. Evernym fills out Medici Ventures’ identity pillar within our keiretsu and will help advance our government-as-a-service technology stack for civilization.”