Integral Closes $8.5 Million Round Led by Electric Capital
In a funding round led by Electric Capital, Integral has raised $8.5 million in new financing. In the past five months, Integral's tools have been used to process $5 billion worth of crypto accounting transactions. The company describes itself as a real-time finance platform for web3 enterprises.?
Former Coinbase Chief Technology Officer Balaji Srinivasan and Color Genomics co-founder Elad Gil are among the notable investors in this round of funding, including Hustle Fund, Anchorage founder Diogo Monica, Mantis, Maple VC, and Dapper Labs founder Roham Gharegozlou.
Integral's founder, Gui Laliberte, said, "Real-time finance is essential for web3 companies. In web2, insights come 7-30 days after the month-end. In web3, 30 days could be the difference between owning $10M and $5M worth of crypto assets."
With real-time finance, Integral believes web3 and web2 organizations have a competitive advantage. Companies can make better decisions with real-time Profit & Loss Statements. Treasury can be used more efficiently with real-time balance sheets. In order to remain transparent in boardrooms and DAO communities, real-time cash flow reporting is crucial.
Avichal Garg, founder, and partner at Electric Capital pointed out that real-time finance is important for any Web3 project or any Web2 company exploring Web3. Keeping pace with the competition requires fast, scalable financial tools.
Early access passes are available for companies with crypto ambitions, including web3, DAOs, and web2, as well as companies with crypto treasuries over $10 million.
CBW - External Analyst