DAO Creation Platform Upstream Raises $12.5M and Launches Publicly

The funding round was led by existing investor Boldstart Ventures with participation from Ibex Investors, among many others.

Mar 9, 2022 at 6:03 p.m. UTC
Updated Mar 9, 2022 at 10:21 p.m. UTC

Brandy covers crypto-related venture capital deals for CoinDesk.

Upstream, a no-code platform where anyone can start and run a decentralized autonomous organization (DAO), announced a $12.5 million Series A funding round and the public launch of its Upstream Collectives platform.

  • The funding round was led by existing investor Boldstart Ventures with participation from Ibex Investors, Tiger Global, Vayner Fund, Fenbushi Capital, Panoramic Ventures, Alpaca VC, Human Ventures, Blumberg Capital and The Medici Group, among others.
  • The capital will scale Upstream Collectives. The platform offers the key elements of a DAO, including treasury, voting, governance, token gating and a wallet.
  • Launched in beta in November, Upstream Collectives has since amassed more than $2 million in assets, according to the company.
  • “Upstream is doing for DAOs what Squarespace and Wix did for websites and Shopify did for ecommerce,” said Boldstart Ventures partner Eliot Durbin in the press release. “By making it simple for anyone to launch a DAO, Upstream will open up Web 3 to new audiences and power the future of decentralized community ownership.”
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Brandy covers crypto-related venture capital deals for CoinDesk.

CoinDesk - Unknown

Brandy covers crypto-related venture capital deals for CoinDesk.

Trending

1
CoinDesk - Unknown
Sequoia's Guide to Surviving the 2022 Bear Market

Venture capitalists have gotten increasingly frantic over the last few months.

Venture capitalists have gotten increasingly frantic over the last few months.

CoinDesk - Unknown
2
CoinDesk - Unknown
NFT Art Museums Are a Good Idea

The metaverse turns galleries global, and helps fund the arts. This article is part of “Metaverse Week."

The metaverse turns galleries global, and helps fund the arts. This article is part of “Metaverse Week."

CoinDesk - Unknown
3
CoinDesk - Unknown
How the US Can Establish Itself as a Crypto Leader

Regulators have an opportunity to map out thoughtful, strategic policy on stablecoins and beyond.

Regulators have an opportunity to map out thoughtful, strategic policy on stablecoins and beyond.

CoinDesk - Unknown
4
CoinDesk - Unknown
No, the UK Is Not Going to Make USDC and USDT Legal Tender

For “legalize” read “regulate.”

For “legalize” read “regulate.”

CoinDesk - Unknown