Chrono.Tech – an Australian blockchain software company – has managed to raise more than $30m in investment funds for its HR sector.
The funding round was led by Australian venture capitalist Mark Carnegie who said it was aimed at solving a number of problems in the recruitment industry using blockchain technology.
As a venture capitalist, entrepreneur, investor and corporate adviser, Carnegie has previously worked with Chrono.Tech founder Sergei Sergienko, co-founding the Crypto Gaming United start-up and two digital assets managed investment funds.
Sergienko said given that Carnegie was “both a well-respected and successful asset manager and venture capitalist, and someone who has recognised the potential of blockchain technology, it’s very encouraging that he has given Chrono.Tech his vote of confidence through his investment in the company”.
“Along with the European investment, it’s validation from the mainstream financial world of the work we’ve been doing for the past five years, and a strong signal that we’re on the right track for further growth in the months and years to come,” he added.
“Crypto assets can be highly complex and obscure, and operate on a very different paradigm to the centralised financial sector — not least in terms of secure storage.
“Sergei has a strong network in the crypto community and extensive experience in identifying crypto initiatives that provide an excellent balance of risk and return, making him a natural addition to the team.”
MH Carnegie & Co has more than a billion dollars under management and has recently expanded its activities into the decentralised space with the launch of the MHC Digital Asset Fund aimed at blockchain-based technology companies.
According to Carnegie, the funds invested in Chrono.Tech during the latest round will be used for scaling and developing the line-up of services and products the company offers in the HR and crypto payroll sectors, as well as its latest directions in workforce management.
New modules and extensions will be launched to allow users to access the full scope of services and make interactions on the platform both easier and safer.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.