We’ve Raised $4.7M
Today the Fluree team happily announces closing our first formal Seed Round, led by 4490 Ventures with participation from Revolution’s Rise of the Rest. Totaling $4.73M, this fundraise serves as a clear indication that data management is due for innovation — and Fluree is well positioned to take on that mission.
- Read the press release here.
- Read Tech Crunch’s take here.
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What is different about Fluree?
Fluree addresses data management from the philosophy that today and in the future companies and applications will need to leverage trusted, high-quality data from multiple sources.
“The world is evolving from static apps to platforms to ecosystems, and technology tools have not kept pace. Innovators have to force fit data management tools originally designed to build static apps, slowing down the evolution to data-driven ecosystems. Fluree has in place the mission, technology and road map necessary to serve a wide variety of industries as they transform through the next evolution of data management to a much more interconnected world.” — Dan Malven, 4490 Ventures
Beyond the Database
We’ve built the data management stack that fills traditional data management needs while enabling emerging technologies like AI, ML, and Blockchain to thrive in a data-centric architecture:
Fluree’s data management approach focuses on immutability, data integrity and joining disparate data sets dynamically through its semantic graph technology. It allows developers to quickly create more powerful and secure applications while solving challenging data management problems like ‘race’ conditions, reproducible data state and scalability. Fluree enables Time Travel — traversing time both forwards and backwards, allowing both instant historical queries and native functionality for future-state queries.
With Fluree, data can ‘defend itself,’ allowing direct data connections to external parties where data dynamically enforces permissions using Fluree SmartFunctions™. Instead of building expensive APIs, developers can safely expose rich, permissioned query interfaces directly to the data source including GraphQL, SPARQL and Fluree’s JSON-based FlureeQL.
Fluree Fits the Evolving Needs of Enterprise Data
- Trusted Data Sharing: Bring trust to shared data. Fluree is the perfect toolkit for applications and data services that interoperate across business functions, third party entities, and governance contexts. With blockchain cryptography, optional decentralization, and configurable rules written directly to the ledger, Fluree checks off every box for smart, secure, and direct collaboration.
- Microservices: Fluree provides a central source of shared truth for coordinating stability across disparate microservices. With the ability to freeze time to accommodate concurrent queries and the permission-at-the-source security model to bypass extra security layers, Fluree is the data source every microservice architecture needs.
- AI/ML: Fluree provides AI technologies with higher-quality data (full historical context, immutable & tamper-proof) and a better way to access it (graph query for sophisticated analysis, multi-source query to broaden access and depth of knowledge).
- Data Management for Public/Private Blockchains Deploying an application on Ethereum or Hyperledger has its benefits — until an application needs to store and leverage data in a unified format. Running Fluree as the data store alongside public or enterprise blockchains allows for a complete and integrative blockchain solution.
- SaaS — Highly variable user rates and traits have led to an explosion in the API economy. Fluree is a better option — introspective queries provide smarter, structured responses and embedded data permissions guarantee users will never have access to data not intended for them.
- The Semantic Web — The Semantic Web proposes the use of standardized data tagging and formatting, allowing the open web as we know it to become a library of data for machines to directly access. This standards adoption provides a common framework for data to be linked and leveraged across enterprise and community boundaries.
By natively adopting W3C standards (RDF triples and SPARQL query language support), Fluree is positioned to be the semantic web’s data store of choice.
The Fluree Vision
Today:
- We want to share data, but still sit in a legacy data paradigm — Today, our data is siloed off and often serves a singular, mutually exclusive relationship with an application. In order to share data, we build around this legacy paradigm with incremental middleware innovations (data lakes, APIs, Multi and Hybrid Cloud), but don’t make the necessary change at the source — data. In this paradigm, data silos will always exist.
- Data Manipulation Costs Trillions — Auditing and related anti-fraud practices cost Trillions, but don’t mathematically solve data manipulation. With Fluree, you can provide a complete audit trail for every piece of data, including its originator, its timestamp, its updates, and every third party app that has touched it. No wonder why Ideablock, an IP database startup has chosen Fluree as its backbone.
Tomorrow:
- Data Should be Shared and Trusted — We share data at an accelerated rate (today via replication, data lakes + redundant harmonization procedures). Blockchain has introduced us with the first piece we need to accomplish sharing more efficiently — trust through decentralization and cryptography. Fluree brings the second piece (data management), the third piece (adoption of global data standards), and the fourth piece (security exists directly at the source, as data). This mixture extends the capabilities of data collaboration into a decentralized environment, where enterprise applications can contribute to and leverage trusted sets of shared data.
- Data Should Have Integrity — Our government records, land title information, stockholder agreements, electronic document signatures, beneficiary information, and more, should all have indisputable integrity. If we can trust data, we can get back to moving forward in society and spend less time in audits & litigation.
What is different about Fluree, the company?
- We are a Public Benefit Corporation. Fluree is a Public Benefit Corporation (B-Corp), focused on dedicating time and effort helping people find careers they can be passionate about. People spend more time at work than they do with their family, and we believe everyone has an opportunity to enjoy what they do. Through our success, we aim to be the world’s largest professional training and assistance organization.
- We are headquartered in beautiful Winston-Salem, NC. We are taking on the important mission of disrupting data management from the burgeoning city of Winston-Salem, a non-coastal community that we believe has the resources, community, and infrastructure to support our mission at scale.
