POLYGON INVESTS $3 MILLION IN CERE NETWORK FOR CERE DECENTRALIZED DATA CLOUD INTEGRATION
The Strategic Investment Will Speed Up Integration Into Polygon’s Protocol, While Cere Network Also Closes An Additional $31 Million Token Offering Led By Republic
September 9, 2021, San Francisco, CA — Cere Network (Cere), the first Decentralized Data Cloud (DDC) platform, today announced the completion of its $28 million Cere token ($CERE) offering and a $3 million investment from Polygon. The investment from Polygon will allow integration of the Cere DDC into Polygon’s protocol and framework at the same time as Cere’s Polkadot integration. The $31 million $CERE token sale was led by Republic, which included smaller raises on DAO Maker and Polkastarter. The Republic platform saw over $100 Million of demand for $CERE within the first hour of the offering.
“With our mainnet launch scheduled for release in the coming weeks, we are grateful for the outpouring of support from our supporters and business partners,” said Fred Jin, Co-founder of Cere Network. “Our headcount at Cere has grown to over 60 employees worldwide to meet the demand for our Decentralized Data Cloud upon launch, which takes data ecosystems to a whole new level of privacy, compliance, interoperability, and agility.”
The strategic investment from Polygon and the additional funds are being used by Cere for new hires, developer network growth, and app development. Cere has built its own blockchain with substrate components, making it interoperable with Polkadot with bridges to Ethereum and Polygon, allowing for cross-chain Non-Fungible Tokens (NFTs) asset and data transfers, amongst others capabilities. The Cere DDC platform allows a more secure first-party data foundation in the cloud by using blockchain identity and data encryption to onboard and segment individual consumer data. This data is then automated into highly customizable and interoperable virtual datasets, directly accessible in near real-time by all business units, partners/vendors, and machine-learning processes.
“The Cere Decentralized Data Cloud is the future of blockchain data and takes harnessing datasets to the next level,” said Sandeep Nailwal, Co-founder and COO of Polygon. “Snowflake has maximized what they can offer outside of blockchain technology, while Cere’s DDC allows for a company’s data to be leveraged outside of a walled cloud garden with more privacy mechanisms in place. Our investment in Cere and their integration into our protocol means that Polygon’s ecosystem maintains its market leadership.”
ABOUT CERE NETWORK
Cere Network is the first Decentralized Data Cloud (DDC) platform in alignment with Polkadot and Polygon, optimized for service data integration and data collaboration. While most enterprise blockchains are simply distributed ledgers, the Cere DDC platform is built from the ground up to power the new generation of first-party customer data ecosystems. Harnessing similar goals to cloud platforms like Snowflake, Cere’s DDC platform is delivering on a new decentralized level of data privacy, data agility, and data interoperability.
Cere Network is founded by former executives from Amazon, Twitch, D-Link, and Bebo. Cere is backed by Binance Labs, Arrington XRP Capital, AU21, Fenbushi Capital, and Neo Global Capital, amongst others. The company is headquartered in Berlin.
Polygon, previously known as Matic Network, is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks, aggregating scalable solutions on Ethereum supporting a multi-chain Ethereum ecosystem.