Advantage Programs, a startup targeted on altering the economics of open-source software program improvement, raised $10 million in a seed funding spherical co-led by Andreessen Horowitz’s crypto fund and Blockchain Capital.
Advantage is growing an attribution protocol for open-source initiatives — a system that will monitor contributions and reward contributors proportionally to the worth they create.
In response to its founders, the protocol seeks to create a extra sustainable financial mannequin for open-source initiatives. The core concept is to attribute and reward contributors primarily based on the worth they add to a mission, transferring away from the dependence on volunteer contributions or company backing, which regularly dictates initiatives’ route, the mission famous.
“Advantage provides wealthy attribution data to software program model management techniques like GitHub. It permits capital sources to route funds to codebases and incentivize builders instantly,” the mission mentioned in a word shared with The Block.
The founders, together with Ryan Sproule, Sam Ragsdale, and Mason Corridor, have backgrounds in notable tech and crypto environments. Sproule beforehand labored at Blockchain Capital, whereas Corridor and Ragsdale have expertise with Andreessen Horowitz’s funding groups.
The $10 million seed spherical was introduced with a post-funding valuation of $55.5 million.
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