[2014-06-16] Forbes: BitGo Raises $12Mil, Draws Attention of Institutional Inv.

[bryant.coleman]

http://www.forbes.com/sites/perianneboring/2014/06/16/bitgo-raises-12mil-draws-attention-of-institutional-investors/

BitGo announces today that they have raised $12 million in Series A financing, making “BitGo one of the most well-funded companies in the Bitcoin ecosystem.” The funding round led by venture capital firm Redpoint Ventures includes a number of notable Bitcoin investors: Radar Partners, Founders Funds, Barry Silbert’s Bitcoin Opportunity Corp., Liberty City Ventures, Crypto Currency Partners, and Ashton Kutcher’s A-GRade Investments.

[kjlimo]

The link worked once, but then I clicked on the screen and it took me somewhere else and now gives me 404 error... not sure how to get to see it again...

I only read the paragraph that was quoted here before losing access...

[LiteCoinGuy]

link isnt broken here.

thx for sharing.

[bryant.coleman]

The link worked once, but then I clicked on the screen and it took me somewhere else and now gives me 404 error... not sure how to get to see it again...

Works fine for me. If you are facing any problems, then give me a PM. I will take the screenshot, and mail it to you.

[LiteCoinGuy]

http://www.coindesk.com/multi-sig-bitcoin-wallet-provider-bitgo-raises-12-million/

[gweedo]

They either have to compete with coinbase or I really don't see them worth the $12 million unless they are moving to hardware and just need the cash.

Because enterprises don't want a web wallet for their funds they want to have their funds on their terms. I have actually brought up some enterprise systems for bitcoins and they aren't going to want this. I don't bitgo did good market research. Plus they make no money.

[Carlton Banks]

Easily the best web wallet model so far. Which isn't to say that I'll be signing up, I still prefer to manage my own bitcoins 100%. But BitGo are at least making a genuine virtue out of using multisig addresses, every other operator says "2 keys for me, and 1 key for you, how safe is that!" i.e. they've got absolute access, and you've got to ask them for permission all the time, and they try to make out this is some kind of security advantage for you, and not for them.

[Bit_Happy]

BitGo Enterprise is the only multi-sig, multi-user Bitcoin wallet

*Manage your Bitcoin holdings with enterprise-grade security
*Set spending limits and corporate treasury policies
*Approvals required for large transactions

They are providing a service that was clearly needed.
Looks like a limited launch so far, and I don't see any pricing/fees for their service listed.