After Graduating Bitcoin Accelerator, HashRabbit Raises $500K

February 6, 2015

7:00 am

CoinDesk reported this week that the Downtown Las Vegas based company HashRabbit successfully raised $500,000 for their Bitcoin Software as a Service (SaaS). The funding came in from Draper Associates with the added support of Vegas’ very own VegasTechFund.

It wasn’t long ago that founders Chris  Shepherd and Gabe Evans, both Las Vegas natives and die-hard #VegasTech community members, graduated from The Mill. Together they walked out with a polished plan and $5,000.

“I’m very proud of all Gabe and Chris have been able to accomplish. Those two were super early stage, not sure if they were going to be b2b or b2c, and to see them evolve was exciting,” says Sara Hill, cofounder and CEO at The Mill.

Alongside the news of the investment, HashRabbit also announced that they’ll be partnering with the Bitcoin hardware manufacturer, Spondoolies-Tech. Together they’ll form a symbiosis to keep Bitcoin mining rigs up and running on both the hardware and software fronts.

Shepherd and Evans also contribute part of their success to their experiences at the Bitcoin-centric accelerator Boost VC in Silicon Valley. They were able to ride the momentum of graduating both programs and grow their team in the following months.

“Boost VC was huge for them and helped them refine a strategy and get a lot of their seed partnerships. It’s been amazing to see what they’re doing,” says Hill.

They might not be located in Downtown Vegas anymore, but we know they’ll always consider it home (they told me so!). We wish you the best of luck with your funding, congratulations!

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Will is a Senior Writer with Tech.Co, based out of America’s Finest City: San Diego. He covers all territory West of the Mississippi river, digging deep for awesome local entrepreneurs, companies, and ideas. He’s the resident Android junkie and will be happy to tell you why you should switch to the OS. When he’s off the clock, Will focuses his literary talent on the art of creative writing…or you might find him surfing in Ocean Beach.

Follow Will on Twitter @WJS1988

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