Golden
Factom

Factom

Factom is a blockchain solution platform that is designed to work for almost any organization.

Factom is a nonprofit blockchain solution platform designed for preserve, ensure and validate digital assets and data in any organization. The company is headquartered in Austin, Texas and was established on November 7, 2014 by Paul Snow, David Johnston, Brian Deery, Jack Lu, and Peter Kirby.



Factom features include regulatory auditing and litigation, quality control, mergers and acquisition due diligence, document authentication, ID documentation chain, and NFC RFI Solution. 



Factom was made to address the following three constraints faced by the Bitcoin blockchain: speed, cost, and bloat (Bitcoin blockchain has a size limit of 1MB per block). Factom allows decentralized applications (dApps) to write their transaction blocks to the Factom blockchain which is then hashed and finally stored on Bitcoin's blockchain. 



Funding

Seed

During 2015 Factom raised 3 different seed funding rounds: On April 1, 2015 Factom raised $140 thousand in funding from undisclosed investors; on July 21, 2015 Factom raised $1 million in funding from Tally Capital; and on October 14, 2015 Factom raised completed their final seed funding round with $400 thousand in funding from FastForward Innovations. 

Series A

On April 18, 2017 Factom completed their series A funding round with $8 million in funding from Draper Associates (lead investor), Plug and Play, Peeli Ventures, Medici Ventures, and Harvest Equity. 

Series B

On August 8, 2018 Factom completed a venture funding round raising $6 million in capital from FastForward Innovations as a SAFE (Simple Agreement for Future Equity) note. 



Timeline

People

Name
Role
Related Golden topics

Abhi Dobhal

Co-Founder



Brian Deery

Co-Founder



David Johnston

Co-Founder



Paul Snow

Co-Founder & CEO



Peter Kirby

C0-Founder



Tiana Laurence

Co-Founder



Further reading

Title
Author
Link
Type
Date

A Comprehensive Beginner's Guide to Factom Cryptocurrency

Sudhir Khatwani

Web



Beginner’s Guide to Factom

Oliver Dale

Web



Factom White Paper

Paul Snow, Brian Deery, Jack Lu, David Johnston, Peter Kirby

Academic



What Is Factom (FCT)? | The Only Guide You'll Need

Steven Buchko

Web



Xconomy: Austin's Factom Eyes Series B After $6M SAFE Deal With LSE Investor

David Holley

Web



Documentaries, videos and podcasts

Title
Date
Link

David Johnston, Factom Inc. | Blockchain Futurist Conference 2018

August 15, 2018

EB52 - Paul Snow & Peter Kirby: Factom, Proof of Existence, Proof of Process, Proof of Audit

November 9, 2014

FACTOM - What Is Factom - How It Works - Factom Review

October 5, 2018

Factom is Forever

May 24, 2016

Paul Snow explains Factom

February 25, 2015

What is Factom

May 24, 2016

Companies

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CEO
Location
Products/Services









References