What is Second State?
Second State is at the forefront of building and commercializing open-source blockchain infrastructure software. The company specializes in developing a comprehensive suite of developer tools and runtime technologies tailored for smart contract platforms, including its proprietary BUIDL IDE. With a strategic presence in Austin, Texas, and development offices in China (Beijing and Taipei) and Australia, Second State is a member of the ETC Labs incubator program.
Founded in 2019, Second State's core vision is to drive enterprise blockchain adoption through complex, versatile business applications. Unlike traditional providers focused solely on the data ledger, Second State develops and commercializes "blockchain middleware." This middleware encompasses virtual machines, rules engines, search engines, and data services designed to enhance user experience and developer productivity for a new generation of blockchain applications. Their enterprise-grade blockchains are programmable, optimized for business use cases, and entirely open source, supported by commercial service agreements.
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 (SIG) is a global financial firm with expertise in investment banking, research, and private equity/venture capital. Their involvement suggests a strategic interest in the growth and commercialization potential of Second State's blockchain technology.
What's next for Second State?
The recent major strategic investment of $3M positions Second State for significant scaling and further development of its open-source blockchain infrastructure. As a company focused on enterprise adoption, this capital infusion is likely to accelerate product innovation, expand its market reach, and strengthen its commercial service offerings.
With a clear focus on providing turn-key blockchain solutions and middleware, Second State is poised to capitalize on the growing demand for robust, business-optimized blockchain technology. The company's commitment to open-source principles, combined with its enterprise-grade solutions, suggests a strategic path towards becoming a key player in the evolving blockchain landscape, particularly in enabling complex business applications.
