Home Web system Tim Berners-Lee Inrupt startup in talks to raise more than $ 30...

Tim Berners-Lee Inrupt startup in talks to raise more than $ 30 million – TechCrunch

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Tim Berners-Lee created the standards for the World Wide Web three decades ago, paving the way for countless companies to thrive on an unimaginable scale. His new business, called Inrupt, wants to fix some of the mess that a lot of these companies have made – and he’s in the market to raise money.

Interrupt is in talks with a handful of investors to raise between $ 30 million and $ 50 million at a pre-monetary valuation of $ 140 million, according to two people familiar with the matter and an investor pitch obtained by me. The round – Series A – is not over, so terms may change, the people said, asking for anonymity as the matter is private.

A spokesperson for Interrupt declined to comment.

The startup, which counts Akamai Technologies and Glasswing Ventures among its investors, says it is trying to “reshape the Internet” by creating a platform that gives users control over their data. Inrupt has built a platform where users can store their personal data in something called a POD (Personal Online Datastores). Its clients include governments and businesses.

“Governments and businesses want to help manage their users’ data, but unfortunately they don’t have a platform to do it. Companies want to access this consumer data without necessarily storing it, but again, there is no open global protocol to do so, ”reads the Investor Deck.

“We are now creating a new platform and infrastructure that gives the world’s people the control of their data, governments the ability to set up data programs to store that data securely, and businesses the ease of doing so. ‘use to access this data without fear of insecurity or abuse. ”, We read in the pitch, pointing to the product of the startup called Solid.

Inrupt believes, he said in the investor speech, that its addressable market is the “full data market” as it tries to emulate core infrastructure companies such as Visa for processing credit cards. credit and Verisign, which marketed the DNS standard.

The startup has signed contracts with the Swedish, Argentinian and Basque governments. These partnerships have not been previously reported. It generated $ 225,000 in revenue last year and $ 200,000 in revenue last month, according to the investor pitch.

“The management team and the board of directors of Interrupt are committed to a system of governance which ensures that the company operates with the greatest integrity, transparency and with the highest standards of ethics and confidentiality. “, We read in the investors’ pitch.


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