DevRev, a Palo Alto-based startup that has built a developer CRM for product-led growth, has raised $20 million and did so by tokenizing its fundraising process.<\/p>\n
Why it matters: By putting investments on the blockchain, DevRev believes it can open its fundraising process to customers and other advocates for its platform.<\/p>\n
Context: DevRev was founded by former Nutanix CEO Dheeraj Pandey, along with Nutanix tech lead Manoj Agarwal, both of whom left that company early last year to build the startup. <\/p>\n
How it works: The DevRev SAFE token is being offered under a Reg D filing with the SEC and represents a digital version of a typical SAFE security.<\/p>\n
Yes, but: Its important to note that DevRev is not putting tokens out on the open market or allowing them to be traded or sold on a public exchange.<\/p>\n
What were watching: While its still early, DevRev is not ruling out the possibility of making tokenized fundraising a part of its product suite, potentially helping its customers to raise money from their customers.<\/p>\n
Editor's note. This story has been updated to show that DevRev has already raised the $20 million. <\/p>\n
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DevRev puts its fundraising on the blockchain - Axios<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" DevRev, a Palo Alto-based startup that has built a developer CRM for product-led growth, has raised $20 million and did so by tokenizing its fundraising process. Continue reading