Element messaging app raises $30 million to bolster product

Anne Freer | July 28, 2021

App Deals

Element, the messaging app that prides itself on secure communication, just secured $30 million in a Series B funding round led by Protocol Labs and Metaplanet.

The company wants to use the cash injection to bolster its technologies, including its Enterprise communication which is available for businesses, teams and public sector organisations.

Among the entities its previously worked with are the French government and Dataport, a German education system, and BWI.

Some of the money will be put toward improving tits peer-to-peer architecture to get rid of servers.

It also plans on extending its video-conferencing tools.

Cloud revenues jumped 300% for Element over the last 12 months which signals significant growth for the app maker.

Based on the Matrix protocol, Element was intended as a cleaner more secure alternative to the communications technology.

In a blog post, Amandine Le Pape, a co-founder of the group, said:

“Between the pandemic, the reactions to WhatsApp’s privacy policy changes, and the fact even regulators now realise how unhealthy these platform monopolies are: it’s become clear over the last 18 months that secure decentralised communication has become an existential requirement, and we should do everything we can to speed up our remaining work. “

“Quite simply, the world needs Matrix now.  Running a Matrix server should be as straightforward and as commonplace as running a web server. Element should be so delightful to use that it drives Matrix adoption to gain critical mass and explode virally.”

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