Strix Leviathan raises $1.625M for its enterprise crypto trading platform

Seattle-based Strix Leviathan, an enterprise trading and management platform for crypto assets founded by startup vet Jesse Proudman, today announced that it has raised a $1.625 million seed round led by Joe Montana’s Liquid 2 Ventures (yes, that Joe Montana). Other investors include Founders’ Co-op, Future\Perfect Ventures and 9Mile Labs, as well as angel investors like Chris McCoy, Doug Baldwin Jr., Kirby Winfield and Steve Hall.

Prior to founding Strix Leviathan, Proudman was the founder and CEO of Blue Box, a cloud computing startup that was acquired by IBM in 2015. With this new startup, Proudman’s moving into a somewhat different space, but as he told me when the company first launched, he believes the state of crypto is similar to the state of the Internet when he launched his first startup in 1997.

Given his experience in the enterprise world, it’s maybe no surprise that Proudman opted to take an enterprise approach to crypto, too. “Many Institutional investors have struggled to figure out the best path of entry into cryptocurrency markets due to the inherent complexities of the space,” he said. “We’re squarely focused on solving trading and management of cryptocurrencies for these institutions and enterprises. Considering the thousands of individual trading pairs, the plethora of exchanges and the immaturity of cryptocurrency markets, these investors desperately need a platform to simplify their trading initiatives. The markets are ready for an offering like ours and we’re excited to bring it to them.”

To do this, the Strix Leviathan team is building three core features: a data ingestion engine for pulling in relevant data across a variety of sources, algorithmic trading strategies based on this data that others can license, and an order gateway that allows the service to execute trades across many of the popular crypto exchanges.

“I’ve seen the birth of PCs, the internet and mobile,” said Liquid 2 Ventures’ Joe Montana in a statement today. “It’s early, but I think crypto may be the next revolution. Unfortunately, it’s also full of scams. Right now the key is to find the right team that is doing something new and to trust them. We’ve known Jesse for years. He’s proven himself to be trustworthy and adaptive in fast paced markets. Strix should be huge.”

 

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