Bitcoin mining startup HashRabbit has raised a half million US dollars to fund the continued development of applications that facilitate bitcoin mining management and improved security.
In this round, funding comes from Draper Associates, Tim and Adam Draper, VegasTechFund, Zappos founder Tony Hsieh, BoostVC’s Brayton Williams, The Mill Co-Founder Sara Hill, and VTF’s George Moncrief. Previously the company had raised $195,000 in seed funding.
The startup was founded by CEO Chris Shepherd, an experienced frontend developer, and self-avowed ethical hacker and technical lead Gabe Evans. Both were founders of a mobile app called Counterless, which was designed to eliminate users’ need to wait in lines. The app has not been updated since 2012 but the two have moved on to better things.
HashRabbit is developing an applications’ suite and an API that seek to maintain a bitcoin mining operation’s efficiency and security. The software permits remote management of mining rigs, streams metrics of mining rigs, and enables the transmission of individual or group commands to mining rigs.
HashRabbit already selected last year to be a member of “Tribe 4” of Adam Draper’s startup accelerator BoostVC.