Portis
Non-custodial Blockchain Wallet
Company Overview
Snapshot
Founded in May 2018 by Tom Teman and Itay Radotzki, Portis operated with 11–50 employees. The company secured funding across one round from one investor, and was acquired by ShapeShift in April 2020.
Business overview
Portis developed a platform to enhance the accessibility of decentralized applications (dApps) for mainstream users. The company's core technology focused on providing a web-based solution that allowed users to interact with dApps without requiring complex installations. Portis aimed to simplify blockchain technology adoption by enabling users to register with an email address, while maintaining control over their crypto assets through end-to-end encryption. It operated within the Business Software sector, serving consumers and developers in the blockchain and cryptocurrency markets.
Strategic signal
In April 2020, Portis was acquired by ShapeShift, a cryptocurrency exchange. This acquisition marked a significant consolidation in the blockchain and digital wallet space, indicating a strategic move by ShapeShift to integrate Portis's user-friendly non-custodial wallet technology. For investors, this event signaled the increasing value of accessible blockchain infrastructure and the potential for established players to acquire innovative solutions to expand their ecosystems and user bases.
Company Intelligence Q&A
- What was the most significant corporate event for Portis?
- Portis was acquired by ShapeShift in April 2020. Following the acquisition, Portis ceased to operate as an independent entity.
- When was Portis founded and by whom?
- Portis was founded in May 2018 by co-founders Tom Teman and Itay Radotzki.
- What is Portis's primary focus?
- Portis focuses on making decentralized applications accessible to mainstream users by offering a web-based solution that simplifies interaction with dApps and allows users to manage crypto assets with end-to-end encryption.
- What was Portis's employee count?
- Portis operated with 11–50 employees.
- Which investor participated in Portis's funding round?
- In September 2018, Portis raised $1.5 million in a funding round from F2 Venture Capital.