|By Business Wire||
|October 30, 2013 11:02 PM EDT||
A new startup founded by Jeremy Allaire will seek to drive mainstream adoption of digital currency such as Bitcoin by bringing payment acceptance tools to merchants, and easy to use services to consumers. The company announced today it has raised a $9 million Series A from Jim Breyer, Accel Partners and General Catalyst Partners.
Jim Breyer will join the Board of Directors of Circle, as will David Orfao of General Catalyst Partners. Jim Breyer, Accel and General Catalyst were investors in Allaire’s previous company, Brightcove, the industry-leading online video platform which had a successful IPO in 2012, and where Jeremy still serves as the company’s Chairman. Allaire also was a co-founder of Allaire Corp., whose ColdFusion product pioneered the Web application development market and led to a successful IPO in 1999. Allaire Corp. was then acquired by Macromedia in 2001, where Allaire became CTO, and helped spearhead the strategy to create an application platform built around Flash.
“Bitcoin and digital currency represent a once-in-a-lifetime opportunity to shape the future of the Internet and global commerce,” said Jeremy Allaire, founder and chief executive officer of Circle Internet Financial, Inc. “There’s a tremendous opportunity to make payments easier, more secure and less costly for consumers and businesses. Digital currency can dramatically reduce the friction and costs currently experienced in the world by merchants and consumers.”
Circle launches amid surging interest in the promise of new global digital currencies such as Bitcoin, which can enable nearly instant payments and money transfers globally at almost no cost and with greater security and privacy than existing electronic payment methods. Like prior Internet-led disruptions of the media, communications and retail industries, Bitcoin’s disruption of payments and finance builds on open source and open standards to create resilient technology platforms that innovators can build upon.
Like the early years of the commercial Internet, digital currency today is often perceived as fringe, difficult to use, unregulated and therefore unsafe for mainstream acceptance or adoption. But like the birth of leading commercial Internet software and online service companies in the mid 1990s, Circle aims to build on the open foundations of Bitcoin to deliver exceptional consumer and merchant products that can facilitate mainstream adoption.
Founded and led by Internet entrepreneur Jeremy Allaire, and backed by world leading venture investors, Circle brings decades of technology and management leadership to the nascent but fast-growing global digital currency ecosystem.
“It is rare to find a world-class entrepreneur embarking on a path to bring innovation to the global financial marketplace,” said Jim Breyer, Partner, Accel Partners. “The dramatic global growth in mobile, social and online commerce is creating the need and potential for a real global digital currency. With Jeremy’s vision for Circle and track record as an Internet pioneer, the opportunity here is to potentially build a significant global company. I’m very pleased to be working with Jeremy again.”
Circle’s forthcoming products will include online services for both consumers and merchants seeking to adopt and use Bitcoin and digital currency for payments and money transfers.
For consumers, Circle will provide an easy-to-use service to exchange, store, send and receive digital currency. The company is building a secure architecture that will increase consumer privacy protection and provide tools for making payments and sending and receiving digital currency.
For businesses and charities, Circle will provide a suite of tools and services that allow them to accept payments in digital currency with no transaction fees. These payment tools will integrate into both online and in-person payments, lowering costs while reducing the risks of fraud and chargebacks often associated with credit and debit cards.
Circle is regulated by the Financial Crimes Enforcement Network (“FinCEN”), a bureau of the U.S. Department of Treasury, as a money transmitter and is seeking appropriate state licenses. Circle also recently hired John Beccia as General Counsel and Chief Compliance Officer. Beccia, former Chief Regulatory Counsel for the Financial Services Roundtable in Washington, D.C. brings decades of operating experience in banking, compliance and risk management. Circle is committed to working with key government agencies and policymakers worldwide.
Circle Internet Financial is a privately held digital currency company based in Boston and with international operations headquartered in Dublin, Ireland. The company was founded in 2013 by Internet pioneer and serial entrepreneur Jeremy Allaire. Circle is backed by venture capital leaders Jim Breyer, Accel Partners and General Catalyst Partners. For more information, please visit www.circle.com.
15th Cloud Expo, which took place Nov. 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, expanded the conference content of @ThingsExpo, Big Data Expo, and DevOps Summit to include two developer events. IBM held a Bluemix Developer Playground on November 5 and ElasticBox held a Hackathon on November 6. Both events took place on the expo floor. The Bluemix Developer Playground, for developers of all levels, highlighted the ease of use of Bluemix, its services and functionalit...
Jan. 31, 2015 05:30 AM EST Reads: 2,862
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile ...
Jan. 31, 2015 05:00 AM EST Reads: 2,905
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, focused on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud platfo...
Jan. 31, 2015 04:30 AM EST Reads: 3,480
At 15th Cloud Expo, Shrikant Pattathil, Executive Vice President at Harbinger Systems, demos a video delivery platform that helps you do interactive videos. He discusses how Harbinger is accomplishing it in the cloud world, the problems they faced and the choices they made to get around these problems.
Jan. 31, 2015 03:45 AM EST Reads: 1,668
Between the compelling mockups and specs produced by your analysts and designers, and the resulting application built by your developers, there is a gulf where projects fail, costs spiral out of control, and applications fall short of requirements. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, will present a new approach where business and development users collaborate – each using tools appropriate to their goals and expertise – to build mo...
Jan. 31, 2015 03:15 AM EST Reads: 1,946
There is no doubt that Big Data is here and getting bigger every day. Building a Big Data infrastructure today is no easy task. There are an enormous number of choices for database engines and technologies. To make things even more challenging, requirements are getting more sophisticated, and the standard paradigm of supporting historical analytics queries is often just one facet of what is needed. As Big Data growth continues, organizations are demanding real-time access to data, allowing immed...
Jan. 31, 2015 03:00 AM EST Reads: 3,498
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Jan. 31, 2015 02:00 AM EST Reads: 8,091
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using ...
Jan. 31, 2015 02:00 AM EST Reads: 3,098
In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect at GE, and Ibrahim Gokcen, who leads GE's advanced IoT analytics, focused on the Internet of Things / Industrial Internet and how to make it operational for business end-users. Learn about the challenges posed by machine and sensor data and how to marry it with enterprise data. They also discussed the tips and tricks to provide the Industrial Internet as an end-user consumable service using Big Data Analytics and Industrial C...
Jan. 31, 2015 01:00 AM EST Reads: 2,950
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, addressed the big issues involving these technologies and, more important, the results they will achieve. Rodney Rogers, chairman and CEO of Virtustream; Brendan O'Brien, co-founder of Aria Systems, Bart Copeland, president and CEO of ActiveState Software; Jim Cowie, chief scientist at Dyn; Dave Wagstaff, VP ...
Jan. 31, 2015 01:00 AM EST Reads: 2,845
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happe...
Jan. 31, 2015 12:30 AM EST Reads: 3,096
"For the past 4 years we have been working mainly to export. For the last 3 or 4 years the main market was Russia. In the past year we have been working to expand our footprint in Europe and the United States," explained Andris Gailitis, CEO of DEAC, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 30, 2015 11:45 PM EST Reads: 2,661
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...
Jan. 30, 2015 11:00 PM EST Reads: 3,764
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, ...
Jan. 30, 2015 10:00 PM EST Reads: 2,883
Over the past year, Datical has had amazing success with our flagship product, Datical DB. We’ve seen multiple visionary, sector-leading companies select Datical DB to drive their Application Schema changes. Now that the number has grown rapidly over the past year, we can begin to see patterns in why customers choose Datical DB. One of them turns out to be pretty emblematic of our other customers. So, let's examine the reasons why they chose to adopt Datical DB.
Jan. 30, 2015 10:00 PM EST Reads: 735