Springcoin, Inc. Secures $23 Million USD in a Series A Funding Round



(Los Angeles, CA) Technically, Springcoin, Inc. does business as, Spring Labs.  As Spring Labs, Springcoin, Inc. attempts to build the foundation, for what will eventually become an innovative way of exchanging sensitive information.  The new way of exchanging sensitive information, is being designed to be a transformative and decentralized infrastructure, for credit and identity data.  The proprietary protocol of Spring Labs, successfully enables competitive parties, to be able to, exchange information directly.  The latter, is considered to be a fundamental new way that, has re-invented the model for data ownership.  As a result, of how information can now be owned or exchanged; financial services data has been completely transformed.  The only thing that is needed, is a consumer or business product.  Recently, Spring Labs announced that, it will continue to develop innovative methods of sharing and owning information.  Specifically, the aforementioned computer software and technology business revealed that, it has secured $23 million USD in a Series A funding round.  As part of the announcement, was the revelation that Andrew Perlman will be joining the board of directors.  For this funding round, current investors of Spring Labs, decided to double down on their bet.  The current investors are August Capital, General Motors Ventures, RRE Ventures, Galaxy Digital, Multicoin Capital, The Pritzker Group and Card Works.  The most noteworthy new investor of Spring Labs is Great Point Ventures.  
             Great Point Ventures as the most noteworthy new investor, will be contributing funds for the following.  The funds will be used for the following two things.  The two things are; the bringing onboard of additional high level staff members, and, the further development of the Spring Protocol.  The first thing, the bringing onboard of additional high level staff members, Spring Labs has already revealed the following.  The aforementioned business has revealed that, Joel Eckhause and David Kravitz have been added to the staff team.  Joel Eckhause is the ex-Chief Operating Officer and the ex-Chief Risk Officer of Renew Financial.  At Spring Labs, he is now the new Chief Operating Officer.  David Kravitz is an ex-cyber security advisor for the N.S.A.  At Spring Labs, he is now the new Director of Research.  The second thing, the further development of the Spring Protocol, the aforementioned is a blockchain based platform.  This platform is being designed, so that, it transforms how information and data are shared throughout the world.  Business products that are planned, out of the Spring Protocol are; Spring Verify, Spring Defense and Spring Protect.  All of the products are intended for lending institutions.  Specifically, they will be able to deliver valuable data, anonymously.  The types of loans that will use these business products include unsecured consumer loans, small business loans, credit cards, secured auto loans and many more types. 
            As previously said, Andrew Perlman will be joining the Spring Labs Board of Directors.  Andrew Perlman is the Founder and the Managing Partner of Great Point Ventures.  Through a press statement, Mr. Perlman said the following.  “Spring Labs has assembled a world class team and developed highly innovative technology that has the potential to transform how information is shared not only within financial services but also in a host of other industries.  We have observed the company’s development since inception and are thrilled to lead this investment round.”  Mike Kanarios is the Chief Strategy Officer at GM Financial.  Through a press statement, Mr. Kanarios said the following.  “GM financial is excited to deepen its relationship with Spring Labs, and we look forward to the launch of the Spring products as we believe they have the potential to better protect our customers from fraudulent activity.” 
            To end, Springcoin, Inc. d.b.a. Spring Labs did release a press statement.  Adam Jiwan is a Co-Founder and the Chief Executive Officer of Springcoin, Inc.  Through a press statement, Mr. Jiwan said the following.  “We’re pleased to announce our Series A with strong participation from existing and new strategic investors, enabling us to accelerate the development of new products as well as the Spring Protocol itself.”  Adam Jiwan also said.  “Additionally, we’re excited to expand our relationship with GM Financial, which has demonstrated its commitment to innovation and collaboration over the past year, playing an active role in the evaluation of products and use cases on the Spring Protocol.”  As previously stated, Spring Labs recently announced that, it will continue to develop innovative methods of sharing and owning information.  Specifically, the aforementioned computer software and technology business revealed that, it has secured $23 million USD in a Series A funding round.  As part of the announcement, was the revelation that Andrew Perlman will be joining the board of directors.  For this funding round, current investors of Spring Labs, decided to double down on their bet.  The current investors are August Capital, General Motors Ventures, RRE Ventures, Galaxy Digital, Multicoin Capital, The Pritzker Group and Card Works.  Lastly, the most noteworthy new investor of Spring Labs is Great Point Ventures.

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Written from Press Release
Registered Writer at
PR Newswire Association, LLC
R-Berumen28
06/15/2019

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