Big hitters back blockchain startup Gospel Technology

UK-based enterprise blockchain venture, Gospel Technology, has snagged a Series A investment of £5 million from IA Ventures and Salesforce Ventures. This follows previous seed and angel funding from LocalGlobe in February.

“We look to invest in the most innovative enterprise companies globally,” says Alex Kayyal, Partner at Salesforce Ventures. “We are excited to support Gospel’s vision of advancing enterprise data sharing through blockchain, and we look forward to having them work more closely with our customers.”

Gospel Technology will use the cash to expand its sales, marketing and partner programmes, as well as continue the development of its data collaboration platform and integration across existing and new applications and infrastructure.

“Google changed the way we interact with the internet. Apple changed the way we use our phones. Facebook changed the way we manage our social relationships. What’s getting people excited about Gospel is that it has the potential to change enterprises’ relationship with their data,” says Teresa Cottam, Chief Analyst at Omnisperience.

“It does this by bringing to market a breakthrough idea that fixes one of the biggest dilemmas of the digital economy: how to enable collaborative and flexible working without compromising on trust and security. In fact, one of the most surprising things about Gospel is why hasn’t somebody done this before?”

“We are really excited to add Gospel Technology to our trailblazing community of talent and technology,” says Roger Ehrenberg of IA Ventures. “We believe that blockchain can radically transform the way that organisations will collaborate and share data, resulting in improved productivity and innovation. We are looking forward to seeing how the Gospel value proposition matures and how the company acts on its vision for businesses across the world.”

Ian Smith

Gospel Technology was founded by CEO Ian Smith, the man behind data analysis and migration company, Butterfly Software, which was acquired by IBM in 2012.

He comments: “Having IA Ventures and Salesforce Ventures join us at this point in our journey is an honour and extremely exciting. IA Ventures are renowned for investing in positively disruptive start-ups and Salesforce is a true innovator and leader, bringing SaaS technology into the enterprise landscape. That mindset and ability to execute aligns with our strategy and ambitions, and we look forward to working together to grow our product and blockchain’s impact in the enterprise.”