Professional Credentials Exchange, Blockspaces Raise Capital

Two local technology companies that tap blockchain technology have fresh capital after completing seed funding rounds.

Professional Credentials Exchange, a Tampa company with a digital marketplace for healthcare organizations, raised $3.5 million, while BlockSpaces, a blockchain technology development studio in Tampa, raised $100,000.

Both companies focus on blockchain technology, also known as distributed ledger technology, a digital information storage system that is best known as the technology behind cryptocurrencies, but with a variety of other uses.

For BlockSpaces, which is based at Embarc Collective in downtown Tampa, the just-completed angel/seed round was a milestone. Other than a small bridge loan, it’s the first outside capital for the company.

The funding came from a local investor, John Rasmussen, said Rosa Shores, BlockSpaces co-founder.

“BlockSpaces will be using these funds to develop a B2B Blockchain-As-A-Service (BaaS) platform designed for mid-market enterprises,” Shores told theSt. Pete Catalyst.

The company now is in the process of a larger $750,000 seed round, and also is converting from a limited liability company to a Delaware C Corporation.

The investors want to simplify the work involved in healthcare practitioner credentialing, and reduce the time and effort involved to initially onboard and retain healthcare practitioners.

ProCredEx has developed a digital marketplace leveraging distributed ledger, advanced data science and machine learning technologies to provide a solution for credentialing organizations to readily share, exchange and monetize their credential verification data within a secure, private and reliable community, the news release said.

ProCredEx was formed two years ago as a joint venture between Hashed Health and Tenon Consulting Solutions. The firm is launching a statewide pilot initially across the Michigan healthcare market, and has several additional regional markets it plans to open later in the year.Article on Catalyst