Reach, a development platform enabling any developer to build decentralized applications, has announced that it has raised $12 million in funding at a $48 million valuation.
The funding round will be used to fuel the onboarding of developers to Reach.
“This investment accelerates our path to becoming the primary method the world builds decentralized applications that will form the basis of global interaction,” said Reach Founder and CEO Chris Swenor. “We are thrilled by the momentum we have seen so far and the unprecedented support by investors and pioneering networks who share our vision for bringing blockchain mainstream.”
“Reach’s focus on accessibility and safety, when combined with the powerful Algorand Virtual Machine (AVM), provides the safest, easiest, fastest, and cheapest smart contract platform available,” said Steve Kokinos, CEO of Algorand. “We believe it is critical to empower all developers with simple languages that put safety and correctness at the forefront. This is aligned with our vision for the future of finance where smart contract infrastructure will support billions of dollars of value and exchange around the world.”
Reach was founded in October, 2019, out of the Boston-based home offices of Chris Swenor and Jay McCarthy.
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