The Provenance Chaintm Network Closes $10.5 Million Funding Round, Achieving $37 Million Valuation

(MENAFN- EIN Presswire)

Our investors' belief in our mission reinforces the fundamental right of individuals and companies to know the facts about what they buy, consume, and use.” - Jeff Gaus, CEO of The Provenance ChainTM NetworkPORTLAND, OR, UNITED STATES, October 8, 2024 /EINPresswire / -- The Provenance ChainTM Network Inc. (PCN), a pioneer in evidence-based commercial transparency, proudly announces the successful closing of its first priced funding round, raising $10.5 million. This funding was exclusively sourced from individual investors and family offices, highlighting the growing trust and interest in PCN's mission to empower consumers and businesses alike with verifiable knowledge about their products.

PCN is at the forefront of redefining how transparency is approached in the commercial landscape. By providing permissioned access to meaningful product knowledge, the Provenance Chain Network enables manufacturers, suppliers, and regulators to make informed decisions that benefit their businesses, customers, and communities. Network users contribute to a dynamic ecosystem where transparent commercial transactions create value for all participants.

The network empowers businesses to document and share the origin and pedigree stories of their products. Through its innovative System of Evidence for verifiable credentials, PCN ensures that people, places, processes, and products are accurately represented, enhancing trust across the supply chain. This combination of transparency and incentive aligns supply chain actions with evolving customer expectations while meeting regulatory requirements and upholding the promises made to consumers.

In addition to its robust platform, PCN is actively collaborating with the United States Space Force to develop blockchain solutions that enhance data integrity and security for personnel credentials. This partnership exemplifies PCN's commitment to advancing national security while revolutionizing credential verification.

Moreover, PCN is proud to announce its recent grant from the National Institute of Standards and Technology (NIST) to develop new Semiconductor Metrology Standards. This grant will further enable PCN to improve the accuracy and reliability of semiconductor manufacturing, expanding its impact in high-tech industries.

“We are thrilled to have secured this funding from such a dedicated group of family offices and individual investors,” said Jeff Gaus, CEO of The Provenance Chain Network.“Their belief in our mission reinforces the fundamental right of individuals and companies to know the facts about what they buy, consume, and use. With this capital, we will accelerate our innovation, expand our partnerships, and continue to foster a more transparent commercial landscape.”

This funding round will propel PCN's growth strategy, allowing the company to invest in product development, enhance its team, and strengthen partnerships across various sectors.

About The Provenance Chain Network
The Provenance Chain Network is redefining evidence-based commercial transparency, empowering businesses and consumers with verifiable product knowledge. By facilitating transparent supply chains and protecting intellectual property, PCN is committed to creating a future where trust and accountability are at the heart of every transaction.

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Amy McDougall
The Provenance Chain Network
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