Element, a secure messaging app based on the Matrix protocol, pockets 25.4 million euros as decentralized communication gains traction

The era of decentralized communication has arrived! Elementthe startup behind the end-to-end encrypted team messaging platform powered by the Matrix protocol, has raised $30m (~€25.4m) in Series B funding .

The round is led by Protocol Labs (the creators of libp2p, IPFS, Filecoin, etc.) and Metaplanet – the investment fund created by Jaan Tallinn, co-founder of Skype. Others, including Automattic and Notion, also joined in the round. To date, the company has raised $48 million in funding.

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Use of funds

The company will use the funds to develop new features, expand into the enterprise market, and fully integrate Matrix.

“The coming months will prove critical as we transform into this brave new world. The new funds will be spent to take Element’s polish to the next level – while fully funding the work of the P2P matrix, VoIP /decentralized videoconferencing and finally decentralized reputation,” says Amandine Le Pape, co-founder of Element.

Built on the Matrix protocol

Element is a decentralized and open-source team communication application based on the Matrix protocol. It should be mentioned that Element co-founders Matthew Hodgson and Amandine Le Pape were involved in the development of the Matrix protocol.

Matrix, the non-profit protocol is open source, allowing anyone to run their own secure messaging and collaboration server. The global Matrix network has 35 million users across approximately 76,000 servers. According to the company, the Matrix protocol has seen 190% growth over the past year.

“In the public sector, more and more governments and NGOs (hopefully to be announced soon!) are joining the UK, US, France and Germany in building on Matrix. Just last week we saw gematik, the German national health agency, announce that all German healthcare will use Matrix for messaging in the future,” says Amandine Le Pape.

Renewed contract with the French government

Recently, the company renewed its contract with the French government to also provide secure tools to 5.5 million civil servants. Currently, there are more than 150 applications available, which can be managed locally.

“Element could be self-sufficient at this point if we wanted to, funding core Matrix and Element development through revenue from EMS hosting, EMS services and support contracts for nationwide deployments such as France and Germany,” said the Pope.

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