
Total amount raised
$171.5 Millions
Latest funding date

Location
BitGo has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The company specializes in providing secure digital asset custody, financial services, and core infrastructure for institutional investors.
Keep reading to explore the intricacies of BitGo's fundraising journey and the investors backing this innovative platform.
What Is BitGo?
Founded in 2013, BitGo is headquartered in Palo Alto, California. The company was established by Mike Belshe, Ben Davenport, and Will O'Brien.
BitGo specializes in providing secure infrastructure for digital assets, including custody, wallets, and financial services. It supports over 200 coins and tokens and has over $2 billion in assets in its wallet.
With a workforce of 251-500 employees, BitGo is trusted by over 1,500 institutions worldwide, offering services such as regulated custody, hot and cold wallets, self-custody wallets, and trading services.
How Much Funding Has BitGo Raised?
- Seed Round
- Amount Raised: $2M
- Date: January 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop initial product offerings.
- Series A
- Amount Raised: $12M
- Date: June 2014
- Lead Investors: Redpoint
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform's infrastructure.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: September 2014
- Lead Investors: BitFury Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance security features and broaden market reach.
- Series B
- Amount Raised: $42.5M
- Date: December 2017
- Lead Investors: GS Growth, Valor Equity Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support regulatory compliance and expand service offerings.
- Series B
- Amount Raised: $15M
- Date: October 2018
- Lead Investors: Galaxy Digital, GS Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop custody solutions and enhance security protocols.
- Series C
- Amount Raised: $100M
- Date: August 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: $1.75B
- Motivation Behind the Round: To make strategic acquisitions and expand global custody solutions.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: January 2024
- Lead Investors: Brink’s
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen partnerships and enhance service capabilities.
Total Amount Raised: $171.5M
Current Valuation: $1.75B
Key Investors
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. It provides a wide range of financial services to a substantial and diversified client base.
- Investment Focus Areas: Investment banking, securities, investment management.
- Notable Investments: Uber, Spotify, WeWork.
- Craft Ventures
- Details: Craft Ventures is a venture capital firm that invests in early-stage and growth-stage technology companies. It was founded by David Sacks and Bill Lee.
- Investment Focus Areas: Early-stage technology, growth-stage technology.
- Notable Investments: Bird, SpaceX, Reddit.
- DRW
- Details: DRW is a diversified principal trading firm that trades its own capital at its own risk. It also invests in ventures and technologies that are transforming markets.
- Investment Focus Areas: Trading, investment, technology.
- Notable Investments: Digital Asset Holdings, ErisX.
- Galaxy Digital Ventures
- Details: Galaxy Digital Ventures is a diversified financial services and investment management firm in the digital asset, cryptocurrency, and blockchain technology sectors.
- Investment Focus Areas: Digital assets, blockchain technology.
- Notable Investments: BlockFi, Bakkt.
- Redpoint Ventures
- Details: Redpoint Ventures is a venture capital firm that focuses on investing in early-stage technology companies. It has a history of backing successful startups.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Netflix, Stripe, Twilio.
What's Next for BitGo?
BitGo stands at the cusp of significant opportunities, driven by a 60% increase in new clients and a 20% growth in assets under custody. The company is poised to expand its secure and regulated custody, wallet, and infrastructure solutions globally. Strategic acquisitions are on the horizon, fueled by the recent $100 million Series C funding, which will enhance service offerings and market presence.
Future fundraising opportunities appear promising, with the potential for additional rounds to support global expansion and strategic acquisitions. The growing demand for regulated custody solutions and increased institutional participation in the digital asset ecosystem could attract more investors.
However, BitGo faces challenges such as navigating the complex regulatory landscape and competition from other custody providers. Ensuring the security and scalability of its solutions will be crucial as the company continues to grow and integrate new acquisitions.
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