PeerNova announced on Tuesday that it had raised $31 million in growth funding led by Mosaik Partners. This is an existing PeerNova investor focused on backing commerce-enabling technology companies that are ready to expand.
PeerNova on the other hand is an enterprise software company developing blockchain-based solutions for the financial industry.
PeerNova’s Cuneiform Platform enables financial institutions to attain end-to-end digitization by unifying disparate sources of data and life-cycle events. It allows financial institutions to synchronize their data across multiple internal and external systems which makes it guarantee data and process integrity.
Existing Peer Nova supporters who invested in the strategic funding round also includes Intuitive Venture Partners and Medici Ventures.
PeerNova was founded in 2013 by entrepreneurs with expertise in blockchain, big data, and financial infrastructure with the aim of solving the challenges in the financial industry.
Howard Mergelkamp, Managing Partner at Mosaik Partners said: “PeerNova has solved seemingly insurmountable reconciliation, asset optimization, and data integrity challenges for the largest financial institutions, saving them millions of dollars in annual costs and freeing up billions in revenue-generating collateral and reserves,” “We are excited to lead this growth round to bring PeerNova’s extraordinarily high-value solutions to financial institutions globally.”
President of Medici Ventures and a Peer Nova board member, Jonathan Johnson, said: .”Peer Nova’s world-class team is the force behind bringing this unique blockchain-based platform to market,” “PeerNova has products in production that are solving key trust and transparency challenges, removing friction, and allowing clients to seamlessly use their resources more efficiently.”