SphereOne, an Austin, TX-based crypto payment platform that allows users to make purchases with any cryptocurrency, across any blockchain, closed a $2.5M seed funding round.
The round was led by Distributed Global with participation from Newark Venture Partners, Zero Knowledge, as well as angel investors Leore Avidar of Alt.xyz and Lob.com and Eric Feldman of Bolt.com
Led by Christopher Ries, COO, and Ryan McNutt, CEO, SphereOne provides a secure 1-click checkout that allows users to use crypto across different blockchains. The platform prioritizes immediacy in transactions and features include a 1-click checkout, as well as the ability to simplify swapping fiat to crypto and vice versa.
Early adopters of the SphereOne crypto payment platform are from a variety of verticals (including traditional e-commerce), but the Web3 gaming segment has been the most compelling.
Ries previously served as an initial product hire at Cylance Inc. (acquired for $1.4B) and later managed a portfolio of security infrastructure products at Oracle. He also worked in the public sector securing critical infrastructure for the Pentagon. McNutt has a background in product development and is an accomplished 3X founder with multiple exits. As the Founder and CEO of ApplyAll (an AI-startup), he scaled the business to over 100K MAUs and has successfully managed robust, global engineering teams.