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Republic Completes $36M Funding Round; Teases Token Sale Platform
A series of planned token sales starts with an offering from Cere Network later this month.
Updated May 9, 2023, 3:17 a.m. Published Mar 17, 2021, 5:53 p.m.
Investment platform Republic has raised $36 million in a Series A funding round led by Galaxy Interactive, a division of Mike Novogratz's Galaxy Digital.
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Republic is a crowd-equity platform aiming to provide greater access to sought-after investment opportunities in startups, real estate, gaming and crypto. According to an announcement Wednesday, Republic's funding now totals more than $70 million since its founding in 2016.
The latest round included participation from Tribe Capital, Motley Fool Ventures and Broadhaven Ventures in what amounts to a long-term bet on democratizing access to private investments.
The company raised $16 million last year through the sale of its Republic Note security token, which is secured on the Algorand blockchain. The AngelList spin-off also raised $12 million back in 2018.
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Read more: Binance, NEO Lead $12 Million Investment In AngelList Crypto Spin-Off Republic
On Tuesday, Republic announced it would be hosting a token sale later this month for Cere Network, a "decentralized Salesforce" platform utilizing the CERE token. The CERE offering will be the "first in a series of anticipated token sales," according to a blog post.
The move puts Republic closer to CoinList and other platforms for accredited and non-U.S. investors to get early access to nascent crypto projects.
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