The blockchain infrastructure platform announced that it has completed a Series B funding round.
Startup Blockdaemon is the latest name in the blockchain industry to achieve unicorn status. Blockchain management entity I raised $155 million yesterday At a valuation of $1.25 billion. The funding round is more than five times its Series A funding, led by Greenspring Associates in June, which raised $28 million. The latest fundraising drive was led by Vision Fund 2, the venture capital fund of Japan-based multinational holding company SoftBank.
New entrants include Sapphire Ventures, Matrix Capital Management, and Morgan Creek Digital. Goldman Sachs stood out among existing investors, while others such as Boldstart Ventures, Lerer Hippeau, CoinFund, Greenspring Associates, Kenetic, Borderless Capital and Kraken Ventures increased their investments.
The Blockchain Deployment Facilitator intends to direct the earned funds into strategic investments. It will also use part of the funds to increase the size of its workforce in Singapore, Japan, the United Kingdom and Germany, according to the announcement.
“Goldman Sachs is pleased to continue its relationship with Blockdaemon and its investment in this company that continues to innovate in the financial services industry,” Ole Harris, who heads Goldman Sachs’ digital asset arm in North America, noted. “We believe Blockdaemon plays a key role in the future of blockchain and cryptocurrency adoption.”
Blockdaemon relies on its mobile platform to facilitate the management of nodes and payment rails for blockchain networks. The New York-based company has experienced explosive growth since its inception in 2017, posting an amazing 70-fold increase in valuation last year. It currently supports more than 40 blockchains, including BitcoinAnd CardanoAnd Ethereum, Solana, Polkadot and Tira. More than 10,000 Ethereum 2.0 validators have been deployed on its network since February.
Blockdaemon founder, Constantine Richter said: This latest major injection of capital is another milestone for Blockdaemon and will allow us to continue to revitalize the existing financial infrastructure around the world. […]We are very pleased to have the support and trust of the giants of finance, technology and venture capital that made this latest round of funding possible. “
Richter also noted that SoftBank support has been crucial at a time when regulations in this area are becoming clearer.