A Los Angeles blockchain startup called Spring Labs has been calling attention in the cryptocurrency market lately for managing to secure $15 million USD in venture capital after only four months of its creation. The company aims to provide identity verification for financial institutions by using the blockchain technology.

The main investor of Spring Labs was August Capital, but there other investors too like GreatPoint Ventures, Victory Park Capital, MultiCoin Capital and Jump Capital. The amount of investments is noteworthy because not many companies are able to secure so much without even having a working product.

The company knows that it is entering a huge market, so the company’s has already stated that it has a world-class engineering team. In fact, that is why the company has been so successful.

August Capital general partner Eric Carlborg states that it is the experience of the team that convinced him to invest. The blockchain industry is in all time high and many big players are entering in this field.

Because of this, the type of solution offered by this company is required for more growth and security. Spring Labs is developing solutions for financial data security, which can prevent hacks like last year’s Equifax hack, which affected nearly 150 million consumers worldwide. Read more from bitcoinexchangeguide.com…

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