Total amount raised
$431.3 Million
Latest funding date
8/1/2022
Location
Blockdaemon has successfully raised funding over 9 rounds, with the latest being a Venture - Series Unknown round. The company is backed by 44 investors, including Axevil Capital and Citi Ventures.
Keep reading to explore the intricacies of Blockdaemon's fundraising journey and the investors backing this innovative platform.
What Is Blockdaemon?
Blockdaemon is a prominent player in the blockchain industry, specializing in blockchain infrastructure and services. Founded in Los Angeles, California, the company has grown to employ between 251-500 people. It operates in sectors such as Bitcoin, Blockchain, Cryptocurrency, and Ethereum.
As a blockchain deployment facilitator, Blockdaemon manages nodes and payment rails for blockchain networks. The company offers a range of services, including MPC wallets and vaults, nodes and APIs, and staking platforms, supporting over 50 blockchain networks globally. Their focus on security and compliance has made them a trusted partner for financial institutions and crypto-native companies.
How Much Funding Has Blockdaemon Raised?
- Seed Round
- Amount Raised: USD 380,000
- Date: April 2018
- Lead Investors: boldstart ventures, Comcast Ventures, Genacast Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's initial development and market entry.
- Seed Round
- Amount Raised: USD 2,350,000
- Date: April 2019
- Lead Investors: Lerer Hippeau
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the team.
- Series Unknown
- Amount Raised: USD 5,500,000
- Date: May 2020
- Lead Investors: boldstart ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance infrastructure and support growing customer demand.
- Series A
- Amount Raised: USD 28,000,000
- Date: June 2021
- Lead Investors: Greenspring Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's early growth and development.
- Series B
- Amount Raised: USD 155,000,000
- Date: September 2021
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: USD 1.26 billion
- Motivation Behind the Round: To officially make the company a unicorn and support further expansion and development of institutional-grade infrastructure.
- Series C
- Amount Raised: USD 207,000,000
- Date: January 2022
- Lead Investors: Sapphire Ventures, Tiger Global Management
- Valuation at Round: USD 3.25 billion
- Motivation Behind the Round: To develop DeFi and CeFi solutions, make structured investments in blockchain-related products and platforms, and enter strategic partnerships.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: April 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing projects and strategic initiatives.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: May 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
- Series Unknown
- Amount Raised: USD 33,070,797
- Date: August 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and expanding the product suite.
Total Amount Raised: USD 431,300,797. Current Valuation: USD 3.25 billion.
Key Investors
- Tiger Global
- Details: Tiger Global Management is an investment firm that deploys capital globally in both public and private markets. The firm focuses on technology-enabled companies, particularly in the internet, software, consumer, and financial technology sectors.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Sapphire Ventures
- Details: Sapphire Ventures is a venture capital firm that invests in growth-stage technology companies. The firm focuses on helping companies scale and achieve long-term success.
- Investment Focus Areas: Technology companies, enterprise software, fintech, digital health.
- Notable Investments: Square, LinkedIn, Box.
- SoftBank Vision Fund 2
- Details: SoftBank Vision Fund 2 is a venture capital fund managed by SoftBank Investment Advisers. The fund focuses on investing in companies that are transforming industries and driving innovation.
- Investment Focus Areas: AI, robotics, communications infrastructure, technology.
- Notable Investments: Uber, WeWork, Slack.
- Boldstart Ventures
- Details: Boldstart Ventures is a venture capital firm focused on seed and early-stage investments. The firm invests in enterprise software and infrastructure startups.
- Investment Focus Areas: Enterprise software, infrastructure.
- Notable Investments: Snyk, BigID, Kustomer.
- Lerer Hippeau
- Details: Lerer Hippeau is a venture capital firm based in New York City. The firm invests in early-stage companies across various sectors.
- Investment Focus Areas: Early-stage companies, technology, consumer products.
- Notable Investments: BuzzFeed, Casper, Warby Parker.
What's Next for Blockdaemon?
Blockdaemon stands at the cusp of significant opportunities, driven by the expansion of DeFi and CeFi solutions, strategic acquisitions, and partnerships with companies like StakeWise. With a $3.25 billion valuation and $207 million raised in its Series C round, the company is well-positioned to capitalize on the growing institutional interest in blockchain technology.
Future fundraising opportunities appear promising as Blockdaemon continues to enhance its product suite and expand its international presence. The establishment of a DeFi Fund and strategic acquisitions will likely attract further investments, enabling the company to scale its operations and innovate within the blockchain ecosystem.
However, Blockdaemon may face challenges such as navigating regulatory environments, ensuring security and compliance, and competing with other blockchain infrastructure providers. As the industry evolves, maintaining high-quality service and enterprise-level security will be crucial for sustaining growth and market leadership.
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