What is OB1?
OB1, also known as OpenBazaar, is a company focused on revolutionizing e-commerce through decentralized trade. The concept gained traction within the Bitcoin community, prompting the company to seek venture capital to build its platform and development team. OB1 operates as a fully distributed entity with a global team of 13 members, aiming to create a new paradigm for online commerce.
How much funding has OB1 raised?
OB1 has raised a total of $9.2M across 4 funding rounds:
Angel/Seed
$1M
Angel/Seed
$3M
Unspecified
$200K
Series A
$5M
Angel/Seed (2015): $1M with participation from Andreessen Horowitz and Union Square Ventures
Angel/Seed (2016): $3M led by BlueYard, Andreessen Horowitz, and Union Square Ventures
Unspecified (2017): $200K supported by Digital Currency Group
Series A (2018): $5M, investors not publicly disclosed
Key Investors in OB1
Andreessen Horowitz
Andreessen Horowitz is a prominent venture capital firm known for investing in technology companies across various stages. Their focus often includes disruptive technologies and platforms that aim to reshape industries.
Union Square Ventures
Union Square Ventures is a New York City-based venture capital firm that invests in transformative markets influenced by technological and societal changes. The firm targets a variety of sectors, focusing on innovative companies poised for growth.
BlueYard
BlueYard Capital is a venture capital firm that invests in innovative technologies across various sectors, including computation, engineering, biology, and cryptocurrency. The firm focuses on supporting founders who are building solutions that contribute to a better future.
What's next for OB1?
The major enterprise-level funding OB1 has received, particularly the recent strategic investment, positions the company for significant scaling and development. This capital infusion is expected to accelerate the expansion of its decentralized e-commerce platform, enhance its technological infrastructure, and potentially broaden its market reach. The company's distributed nature and focus on a revolutionary approach to online trade suggest a future geared towards disrupting traditional e-commerce models and fostering a more open digital marketplace.
See full OB1 company page
