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Finance

Republic Completes $36M Funding Round; Teases Token Sale Platform

A series of planned token sales starts with an offering from Cere Network later this month.

By Jamie Crawley
AccessTimeIconMar 17, 2021 at 5:53 p.m. UTC
Updated May 9, 2023 at 3:17 a.m. UTC
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Investment platform Republic has raised $36 million in a Series A funding round led by Galaxy Interactive, a division of Mike Novogratz's Galaxy Digital.

Republic is a crowd-equity platform aiming to provide greater access to sought-after investment opportunities in startups, real estate, gaming and crypto. According to an announcement Wednesday, Republic's funding now totals more than $70 million since its founding in 2016.

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    • The latest round included participation from Tribe Capital, Motley Fool Ventures and Broadhaven Ventures in what amounts to a long-term bet on democratizing access to private investments.

    The company raised $16 million last year through the sale of its Republic Note security token, which is secured on the Algorand blockchain. The AngelList spin-off also raised $12 million back in 2018.

    On Tuesday, Republic announced it would be hosting a token sale later this month for Cere Network, a "decentralized Salesforce" platform utilizing the CERE token. The CERE offering will be the "first in a series of anticipated token sales," according to a blog post.

    The move puts Republic closer to CoinList and other platforms for accredited and non-U.S. investors to get early access to nascent crypto projects.

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.