Authtrail Raises $3.6M In A Bid To Expand Its Global Enterprise Data Integrity Market Footprint

In this era of big data, where more than 2.5 quintillion bytes of data are produced daily, data integrity has become a pressing issue. Poor quality data leads to losses and can spark poor decision-making, impacting the future viability and sustainability of any organization. As a result, the need to implement adequate measures to preserve the integrity of the data accumulated from various sources has also become increasingly important.

Generally, data integrity refers to the overall completeness, accuracy, and consistency of data. It also covers areas related to the security of the data, compliance with regulatory guidelines, and the ability to verify the data source as and when needed. 

However, achieving all this is no easy task, especially when considering the amount of data generated every day. Although several existing solutions allow enterprises to secure and verify data retroactively, these technologies aren’t equipped to offer end-to-end data integrity systems.

Yet, with the emergence of blockchain technology, several promising ideas have been floated to help preserve data integrity throughout the data’s lifecycle. Authtrail is one leading solution spearheading the effort to convey blockchain networks’ security, transparency, and immutability to enterprises.

By bridging off-chain ecosystems with on-chain infrastructure through easy-to-use APIs, Authtrail has created a range of products that offer simple solutions to complex data integrity problems while maintaining an extremely user-friendly and intuitive interface alongside the best price-performance ratio.

Owing to its features, Authtrail recently closed a successful funding round. Backed by prominent names from the blockchain and fintech industries, the Authtrail team raised $3.6 million from the round. These funds will speed the development of the Authtrail infrastructure and in business expansion as the Authtrail team aims to dominate the global data integrity market. 

In addition, a portion of these funds will also be allocated towards expanding the company’s presence across the market by offering grants for startups, developers, and businesses building new solutions and tools on the Authtrail LaunchHub.

The End-To-End Solution For Enterprise Data Integrity

As an end-to-end data integrity solution provider, Authtrail has cemented itself as the go-to blockchain-based SaaS solution for enterprises across a wide range of industries, including pharma, healthcare, finance, and more. 

Built on the Polkadot-based Moonbeam Network, Authtrail has built a product suite in the form of a data integrity SaaS platform and adjacent applications. Together, this ecosystem of products provides a faster, safer, and more reliable approach for verifying critical information and establishing trust and easy tracking of various operations within the data generation process.

By leveraging the features of Moonbeam, Authtrail overcomes the limitations of transaction speed and gas costs by hashing and storing large datasets faster and at a lower cost than existing solutions. While Authtrail was initially deployed on Ethereum, the rising problems of gas fees and throughput made the team transition their infrastructure to the Polkadot-based Moonbeam Network, as it offers faster speed and lower gas alongside access to all the amazing features that Polkadot offers through its parachains and Relay Chain.

Derek Yoo, CEO of PureStake and Founder of the Moonbeam project, is optimistic about the potential of the Authtrail project. He notes,

Authtrail is a great example of leveraging open Web3 technologies to solve real-world problems for regular users. We are delighted to support the team at Authtrail in bringing Moonbeam as a solution to challenges in enterprise environments.

Authtrail connects enterprise operations with the security, traceability, and immutability of blockchain-based data to enable enterprise users to easily prove that their product or service data is valid, trustworthy, and compliant with all guidelines. The best part is that it doesn’t disrupt existing processes, rather it works as an easy-to-implement add-on to all existing data management systems.

Matjaz Sobocan, CEO of Authtrail, emphasizes the company’s vision, concluding,  “Backed by several Angels and multiple VCs, Authtrail will help companies leverage higher quality data, equipped with integrity, as they implement blockchain technology into daily operations seamlessly and at a low cost.”