Upstream, a no-code platform where anyone can start and run a decentralized autonomous organization (DAO), has announced a $12.5 million Series A funding round and the public launch of its Upstream Collectives platform.
- The funding round was led by existing investor Boldstart Ventures with participation from Ibex Investors, Tiger Küresel, Vayner Fund, Fenbushi Capital, Panoramic Ventures, Alpaca VC, Human Ventures, Blumberg Capital and The Medici Group, among others.
- The capital will help scale Upstream Collectives. The platform offers the key elements of a DAO, including treasury, voting, governance, token gating and a wallet.
- Launched in beta last November, Upstream Collectives has since amassed more than $2 million in assets, according to the company.
- “Upstream is doing for DAOs what Squarespace and Wix did for websites and Shopify did for eCommerce,” said Boldstart Ventures partner Eliot Durbin in the press release. “By making it simple for anyone to launch DAO, Upstream will open up Web 3 to new audiences and power the future of decentralized community ownership.”
Read more: From DOH! to DAO: The Rise of Decentralized Organizations