What is Second State?
Second State is dedicated to building and commercializing open-source blockchain infrastructure software, offering a comprehensive suite of developer tools and runtime technologies for smart contract platforms, including its BUIDL IDE. The company's vision is to drive enterprise blockchain adoption through complex, versatile business applications. Unlike traditional providers focused on data ledgers, Second State develops and commercializes "blockchain middleware"—virtual machines, rules engines, search engines, and data services—designed to enhance user experience and developer productivity for a new generation of blockchain applications. Founded in 2019 and headquartered in Austin, Texas, with development offices in China and Australia, Second State is a member of the ETC Labs incubator program.
How much funding has Second State raised?
Second State has raised a total of $3M across 1 funding round:
Series A
$3M
Series A (2019): $3M with participation from Susquehanna International Group
Key Investors in Second State
Susquehanna International Group
Susquehanna International Group is a global financial firm with expertise in securities markets and institutional clients, leveraging quantitative applications across various financial products. Their affiliated entities specialize in investment banking, research, sales and trading, private equity, and venture capital, indicating a broad investment scope that could encompass technology and growth-stage companies.
What's next for Second State?
The recent major strategic investment signifies a pivotal moment for Second State, likely enabling accelerated development of its open-source blockchain infrastructure and expansion of its enterprise solutions. This financing round, characterized as a significant capital event, positions the company to further solidify its market presence and pursue its vision of driving enterprise blockchain adoption through advanced middleware solutions. The company's focus on developer productivity and business-optimized blockchains suggests a strategic push towards broader commercialization and integration within enterprise ecosystems.
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