Blockskye, building blockchain infrastructure for corporate travel, raises $15.8 million

Blockskye, a startup developing blockchain infrastructure for corporate travel, has raised $15.8 million in a Series C funding round to expand its platform.

The round was led by Blockchange, with participation from United Airlines Ventures, Lightspeed Faction, KSV Global, Lasagna, Litquidity Ventures, Longbrook Ventures, and TFJ Capital.

Blockskye began raising the round during the second quarter of 2024 and closed it in the first quarter of this year, co-founder and co-CEO Brook Armstrong told The Block. The round was structured as a priced equity deal with token warrants. Armstrong declined to disclose the post-money valuation.

The latest round brings Blockskye’s total funding to $33 million.

What does Blockskye do?

Blockskye helps enterprises streamline their travel systems by using blockchain-based tools to book flights, process payments, and manage travel expenses — connecting directly with suppliers such as airlines and bypassing intermediaries like travel agencies and credit card networks.

Its clients include PwC, TripAdvisor, and Diageo. With the new funding, Blockskye says it plans to expand its reach to more Fortune 500 companies and broaden its presence in Europe, Latin America, and Asia.

"Blockskye is set to expand its proven technology, which already delivers meaningful results including an 84% reduction in agent spend and millions of dollars in recovered unused tickets through real-time ownership tracking," the company said. It claims the platform can reduce total travel costs by 14.5%.

Asked which blockchain(s) power the platform, Armstrong said details would be announced later this year.

Blockskye is also preparing to launch a new payments product, with Armstrong emphasizing a focus on stablecoin-based transactions. Armstrong said that current enterprise payment systems won’t benefit from stablecoins if they are used simply to batch and settle invoices.

"Stablecoin adoption for enterprises only adds value when transactions are settled in real time, transaction by transaction," he said. "This is the big unlock, because disputes happen at the transaction level not the batch level. Applying stablecoin settlement to credit card payment processes doesn’t really change anything: and we’re the company that updates the full stack.”

Based in Boston, Blockskye currently employs over 40 people and plans to hire 30 more across functions, including technology, sales, and management, Armstrong said.

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