Cere Network Secures $3.5 Million to Transform CRM with Blockchain

The Big Bucks: Cere’s Recent Funding Round

Cere Network, a trailblazing startup based in San Francisco, has just wrapped up an impressive $3.5 million in a seed funding round. This eye-catching sum was contributed by some heavy-hitting investors in the blockchain arena, including Binance Labs, the venture arm of Binance. For those living under a crypto rock, Binance is noteworthy for being the second largest cryptocurrency exchange globally by trading volume. Other notable players in this funding frenzy included Neo Global Capital, Fenbushi Capital, and a mix of funds that sound like they belong in a superhero movie—Arrington XRP Capital, Kenetic Capital, and more.

New Ventures in Innovation

Alongside the money, Cere Network has ambitious plans brewing. They’ve just opened a new office in New York and announced the upcoming launch of the Cere Network Innovation Factory in Berlin during the much-anticipated Berlin Blockchain Week, spanning from August 18 to 29. If the names of these cities aren’t enough to get your tech senses tingling, keep reading!

Disrupting CRM with Blockchain

Fueled by a team of Silicon Valley veterans with backgrounds from companies like Amazon, Twitch, and Bebo, Cere Network aims to shake up the CRM industry. And why not? Global spending on CRM solutions ballooned by nearly 16% in 2018, hitting a staggering $48 million. But Cere isn’t just here to count cash; they aim to revolutionize the data-sharing model inherent in CRM through the marvels of blockchain, ensuring privacy and security in this data-sharing process.

Why It Matters

Feng Xiao, a general partner at Fenbushi Capital, highlighted Cere Network’s potential to tackle interoperability hurdles across a range of industries. Let’s face it—nobody wants to deal with systems that can’t talk to each other. By addressing these pain points, Cere Network stands a chance to become a game-changer in the CRM landscape.

Cere’s Ongoing Developments

Earlier in July, we learned that Cere Network received strategic funding from not just Binance Labs, but also the well-respected Arrington XRP Capital and NEO Global Capital. As part of the Binance Labs’ incubation program, Cere is also the issuer of the CERE incentive token, designed to motivate people to run blockchain nodes. It’s like a digital treat for those who contribute to the network!

In a curious twist of fate, Salesforce managed to steal some headlines recently by certifying the first-ever artwork-painted Lamborghini Aventador S through its blockchain platform—proving there’s more overlap between flashy cars and blockchain technology than you’d think.