Stratos Raises $5.8 Million for their Payments SystemBy Amanda Lewan on October 10th, 2014 /
Ann Arbor based Protean has raised $5.8 million in venture funding, and has officially re-branded their blue tooth enabled payment system to “Stratos”. The goal, Co-founder Thiago Olson says, is to help reflect where the company is headed to next.
“It reflects the strength and universality of the vision,” said Olson. “We’re connecting a dumb piece of plastic to the cloud; it has ties to the cloud infrastructure that we’re building.”
Funding was received from Resonant Venture Partners here in Ann Arbor, Hyde Park Venture Partners based out of Chicago, Toba Capital Partners and Western Technology Investment both from the West Coast.
With a new round of funding this team is building a secure platform along with their product. The Stratos card allows for all reward cards and credit cards to be loaded onto one card. It can work with ATMs and your typical purchasing devices. Plus, Olson says, their platform offers an extra layer of security to the process.
“It’s a next generation card. It’s a bluetooth low energy device,” said Olson. “We’re designing it to be very, very secure.”
We had the opportunity to meet Stratos Co-Founder Thiago Olson a couple years ago at a local networking event. Olson then was sharp and enthusiastic about the payments system. It’s great to hear they are growing. We recommend checking out out their current open positions in Ann Arbor, and more on the Stratos card.