Total amount raised
$431.3 Millions
Latest funding date
Location
Blockdaemon has successfully raised significant funding over multiple rounds, establishing itself as a key player in blockchain infrastructure. The platform offers a range of services, including staking, node deployment, and API integrations, tailored for financial institutions and crypto-native companies.
Keep reading to explore the intricacies of Blockdaemon's fundraising journey and the investors backing this innovative platform.
What Is Blockdaemon?
Blockdaemon, founded in 2017 by Konstantin Richter, is headquartered in Los Angeles, California. The company specializes in managing nodes and payment rails for blockchain networks, offering a fully portable solution that allows users to switch networks and chains effortlessly.
With a workforce of 251-500 employees, Blockdaemon provides a range of services including staking, node deployment, and API integrations. Their infrastructure is trusted by both financial institutions and crypto-native companies.
Blockdaemon's mission is to support the blockchain developer ecosystem with best-of-breed dev-ops advice, ensuring secure and scalable blockchain infrastructure for its clients.
How Much Funding Has Blockdaemon Raised?
- Seed Round
- Amount Raised: $380K
- Date: April 2018
- Lead Investors: boldstart ventures, Comcast Ventures, Genacast Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop initial blockchain infrastructure services.
- Seed Round
- Amount Raised: $2.4M
- Date: April 2019
- Lead Investors: Lerer Hippeau
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance product offerings.
- Venture Round
- Amount Raised: $5.5M
- Date: May 2020
- Lead Investors: boldstart ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and support growing customer demand.
- Series A
- Amount Raised: $28M
- Date: June 2021
- Lead Investors: Greenspring Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and development.
- Series B
- Amount Raised: $155M
- Date: September 2021
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: $1.26B
- Motivation Behind the Round: To officially make the company a unicorn and support further growth.
- Series C
- Amount Raised: $207M
- Date: January 2022
- Lead Investors: Sapphire Ventures, Tiger Global Management
- Valuation at Round: $3.25B
- Motivation Behind the Round: To develop DeFi and CeFi solutions, make structured investments, and enter strategic partnerships.
- Venture Round
- 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 expansion and technological advancements.
- 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.
- Venture Round
- Amount Raised: $33.1M
- Date: August 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand services and infrastructure capabilities.
Total Amount Raised: $431.38M. Current Valuation: $3.25B.
Key Investors
- Sapphire Ventures
- Details: Sapphire Ventures is a venture capital firm that invests in growth-stage technology companies. They focus on helping companies scale and achieve long-term success.
- Investment Focus Areas: Enterprise software, fintech, digital health.
- Notable Investments: Square, LinkedIn, Box.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on private and public companies in the global Internet, software, consumer, and financial technology industries. They are known for their strategic investments in high-growth technology companies.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- SoftBank Vision Fund 2
- Details: SoftBank Vision Fund 2 is a major investment fund managed by SoftBank, focusing on technology-driven companies. They aim to support companies driving the next stage of the Information Revolution.
- Investment Focus Areas: Artificial intelligence, robotics, IoT, biotechnology.
- Notable Investments: Uber, WeWork, ByteDance.
- Boldstart Ventures
- Details: Boldstart Ventures is a venture capital firm that invests in early-stage technology companies. They have a strong focus on enterprise software and infrastructure.
- Investment Focus Areas: Enterprise software, developer tools, infrastructure.
- Notable Investments: Snyk, BigID, Kustomer.
- Galaxy Digital
- Details: Galaxy Digital is a diversified financial services and investment management company in the digital asset, cryptocurrency, and blockchain technology sectors. They joined Blockdaemon’s cap table in the Series C funding round.
- Investment Focus Areas: Digital assets, blockchain technology, cryptocurrency.
- Notable Investments: Bakkt, Bitfury, BlockFi.
What's Next for Blockdaemon?
Blockdaemon is poised to capitalize on the burgeoning opportunities in the DeFi and CeFi sectors. With a $3.25 billion valuation and $207 million from its Series C round, the company plans to expand its product suite and make strategic acquisitions. Partnerships with StakeWise and Obol Labs highlight its commitment to providing institutional-grade blockchain solutions.
Future fundraising efforts seem likely as Blockdaemon continues to grow and innovate. The company’s focus on secure, scalable infrastructure aligns with industry trends, making it a strong candidate for further investment. However, challenges such as market volatility, regulatory compliance, and competition from other blockchain infrastructure providers could pose hurdles.
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