Blockchain CRM startup Cere Network attracts investment from Binance Labs, Arrington XRP Capital

With multiple customer relationship management (CRM) solutions spread across business units, companies today find it difficult to extract customer insights. This is where the startup Cere Network comes in.

The company is building a blockchain-based CRM ecosystem in which customer data will be captured on the blockchain and securely shared across modular services and partners.

Cere Network recently received funding from Binance Labs, NEO Global Capital, and Arrington XRP Capital.

On June 5, Binance provided a list of startups that it was funding through its Incubation Program via a blog post. One of them was Cere Network and as of July 3, the CRM startup announced that it had received the funding, though no specific amount was disclosed. As to what it intends to use that money for, Cere Network co-founder and chief executive, Fred Jin provided some details via press release.

“Today’s incumbents are not only expensive and inefficient, but it’s also difficult for businesses to extract clear customer insights across disparate CRM systems,” Jin said. “Our mission with Cere Network is to leverage blockchain to empower businesses to have control over their own data and unlock the potential of collaborative microservices on top of the unsiloed user data.”

Binance Labs head, Ella Zhang also provided her insights as to why funding Cere Network is a good idea. She also promises additional details on how the startup is going to work within the Binance Chain ecosystem.

“Cere Network is proving to become one of the first major on-ramps for brands, apps, and other enterprise assets onto the blockchain. We look forward to working closely with Cere to build this ecosystem and will have more news to share about its integration with Binance Chain soon,” she said.

In order to assist with the payment aspects of using its services, Cere Network is also offering tokens for use within its ecosystem, SiliconAngle reports. It also helps to give extra motivation in the creation and operation of data nodes and network nodes within the blockchain system.