BOSTON — Blockchain voting platform Voatz announced today it raised $7 million in Series A funding, including backing from Medici Ventures, the subsidiary of Overstock.com created to boost blockchain.
“Voting is a great application of blockchain technology,” said Medici Ventures President Jonathan Johnson. “Many of the key issues facing the world today cannot be addressed until we have functioning democracies with high levels of citizen participation.”
Voatz lets voters cast a ballot using a secured smartphone or tablet. It uses biometrics, encryption, and blockchain technology to increase convenience, security, and transparency.
The company plans to use the funds to launch new pilot programs all over the world. Voatz conducted the first mobile blockchain vote in an American federal election during the 2018 Midterms, allowing overseas military personnel and US citizens to cast ballots.
The company also recently completed a pilot program with the City and County of Denver, Colorado to expand absentee voting for deployed military personnel and overseas US citizens during the city’s 2019 municipal elections.
Since 2016, Voatz has run 39 elections with towns, cities, states, both major state political parties, colleges and universities, and unions.
“We are committed to the steady progress of mobile voting backed by blockchain technology to improve our election infrastructure and make remote voting more accessible and safer,” said Voatz CEO Nimit Sawhney.
The round was led by Medici Ventures and Techstars with participation from Urban Innovation Fund and Oakhouse Partners.