Chrono.Tech raises $30 million to develop HR-focused blockchain products
Australian startup Chrono.Tech has raised more than $30 million in its latest investment round, as stated in the company’s official press release.
Chrono.TechAustralia’s oldest blockchain company specializing in innovative technology solutions for the human resources sector, has completed a $30 million financing round led by Australian venture capital investor Mark Carnegie and a major European Family Office.
Founded in 2016 by Sergei Sergienko, the company has a suite of five employment-focused services and products, such as job search, workforce management, and crypto payroll services, greatly simplifying the hiring and payment processes for both employees and employers.
LaborX – one of Chrono.Tech’s famous products on the blockchain – helps freelancers find jobs and get paid in cryptocurrencies. The platform’s user base reportedly grew by more than 42,000 freelancers and nearly 5,000 clients amid the surge in global user interest in digital currencies.
Mark Carnegie, a multi-millionaire venture capitalist and founder of MH Carnegie & Co, noted Sergienko’s experience in the digital asset market, when speaking about participating in Chrono.Tech’s funding round:
“Crypto-assets can be highly complex and obscure, operating on a very different paradigm than the centralized financial sector, not least in terms of secure storage. Sergei has a strong network in the crypto community and extensive experience identifying crypto initiatives that offer an excellent balance of risk and return, making him a natural addition to the team.”
It’s not Carnegie’s first association with the company. Last year, he co-founded Sergienko’s Crypto Gaming United, an innovative decentralized gaming platform based on the Play-to-Earn model that raised $5 million in a funding round.
In an interview with NewsBTC, Sergienko said:
“We are excited to get this investment round, it really confirms our unwavering belief that the future is working on the blockchain where everyone is paid exactly what they deserve.”
He added that the participation of major industry players such as those from the European sector and Mark Carnegie in Chrono.Tech’s investment round is a confirmation from mainstream finance of the work his team has done over the past five years.
Image Source: Chrono.Tech (Sergei Sergienko, founder and CEO of Chrono.tech)