Our drive to optimize payments with machine learning has attracted strategic investors who understand Lightning’s significant disruptive potential and our role in perfecting global payments.
PORTLAND, Ore. (PRWEB)
April 25, 2023
Amboss Technologies, Inc. (“Amboss”), a pioneering data analytics company for the Bitcoin Lightning Network, announced today it raised $4 million in Seed funding from Stillmark, a leading Bitcoin-native VC. The round also includes participation from such VCs as Valor Equity Partners, Draper Associates, Fulgur Ventures, and Ride Wave Ventures.
With over 17,000 payment provider nodes, the Lightning Network provides a decentralized alternative to traditional payment networks, yet this emerging, peer-to-peer financial system is becoming more complex. As a first mover in the space, Amboss combines data, analytics, and a social component to enable users to make strategic decisions on how to successfully and efficiently route payments across the network. The new funding will bolster the company’s efforts in AI research and product development. By leveraging AI and machine learning, Amboss can add intelligent decision-making tools to their product offering that will help drive node and channel management automation.
Jesse Shrader, co-founder and CEO of Amboss, remarked, “The data analytics platform we’ve built with Amboss showcases the many advantages of the Lightning Network as a community-controlled financial system. Our drive to optimize payments with machine learning has attracted strategic investors who understand Lightning’s significant disruptive potential and our role in perfecting global payments.”
“Payment reliability is of critical importance to the enterprises and institutions now considering, currently using, or actively preparing to onboard to the Lightning Network in 2023,” said Alyse Killeen, Managing Partner of Stillmark. “These businesses are seeking the superior efficiency and availability of Lightning as compared to other payment protocols generally, and traditional payment systems specifically. Amboss has advanced products that provide a simpler experience of Lightning and one that more closely fits existing client business parameters. Amboss is very well positioned to continue along this path at the exceptionally quick cadence that has defined the company to date, continuing to develop and deliver data-driven tools and services to optimize payment reliability and simplify channel management.”
Amboss has proven its solutions are essential for optimizing the Lightning Network. Currently, over 30% of the network’s nodes are registered on Amboss.space including nodes hosted by industry leaders like Kraken Exchange and Jack Dorsey’s Lightning-focused Block subsidiary “TBD.”
Amboss has pioneered incorporating a social layer into its platform, featuring community groups, message boards, reputational scoring, and social sharing. By fostering a hub for communities on the Lightning Network, Amboss has cultivated a robust user feedback loop and accrued considerable brand equity. Amboss bolsters its communities with its “Magma” marketplace, kick-starting a way for lightning users to earn bitcoin yield from savings without relinquishing custody.
In the evolving $9 trillion digital payments industry, Amboss’ momentum highlights the transformative benefits of the Lightning Network’s round-the-clock availability, low transaction costs, and enhanced privacy. As the Lightning Network disrupts traditional payment methods, Amboss’ contributions in optimizing routing and offering innovative solutions are accelerating a counter-cyclical financial revolution.
For media inquiries, please contact Karen Hepp at (310) 260-7901 or karen(at)melrosepr(dot)com.
About Amboss Technologies
Amboss is a leading data analytics provider for the Bitcoin Lightning Network, using machine learning to offer optimized routing and tools that redefine the future of decentralized finance. Amboss supports merchants and consumers to identify optimal peers and payment routes based on cost, reliability, or reputation as well as enterprise-grade risk management. Amboss also operates Magma, the leading marketplace for buying and selling Lightning channels that is the only platform to enable users to earn bitcoin yield from savings without relinquishing custody.
About Stillmark
Founded in 2019 as the first Bitcoin technology-focused venture capital firm, Stillmark invests in founders whose technologies, products and services are accelerating the growth of the Bitcoin ecosystem. Based in Los Angeles, California, the firm invests at the Pre-seed, Seed, and Series A stage partnering with intrepid founders who are helping to expand the use and utility of bitcoin, the Bitcoin Blockchain and the Lightning Network. To learn more, visit http://www.stillmark.com.
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