Cloudburst Technologies, a monitoring and threat intelligence provider, announced that they raised $3 million in their seed investment round. Investments were led by Strategic Cyber Ventures with participation from Coinbase Ventures and Bloccelerate.
Cloudburst Technologies specifically provides tools aimed at tracking and combating fraud in the cryptocurrency market. Investigators can do so without relying on anonymous wallet addresses using the tools provided by Cloudburst Technologies.These solutions serve customers in the public sector, the web3 ecosystem, and traditional finance.
The seed investment will allow Cloudburst to continue to develop solutions and security structures for the cryptocurrency industry. Evan Kohlmann, CEO and Founder of Cloudburst Technologies, emphasized his gratitude for the investments and their dedication to providing defenses against digital currency fraud.
Hank Thomas, CEO and Founder of Strategic Cyber Ventures expressed his excitement to be working the Cloudburst Technologies and their capacity for providing stability for the cryptocurrency industry because of their ability to identify scams and other security measures.