Total amount raised
$307.2 Millions
Latest funding date
Location
Digital Asset has successfully raised significant funding over multiple rounds, establishing itself as a key player in the distributed ledger technology space. The company offers a platform called Daml, which enables the creation of multi-party solutions that transform disparate silos into synchronized networks.
Keep reading to explore the intricacies of Digital Asset's fundraising journey and the investors backing this innovative platform.
What Is Digital Asset?
Founded in 2014, Digital Asset is headquartered in New York, New York. The company specializes in distributed ledger technology, aiming to revolutionize how businesses interact through its Daml platform.
Digital Asset was established by a team of visionaries including Don Wilson, Eric Saraniecki, Shaul Kfir, Sunil Hirani, and Yuval Rooz. Their collective expertise has driven the company to the forefront of blockchain innovation.
With a workforce of 101-250 employees, Digital Asset continues to expand its influence in the financial technology sector, offering cutting-edge solutions for synchronized networks.
How Much Funding Has Digital Asset Raised?
- Series A
- Amount Raised: $7.2M
- Date: June 2016
- Lead Investors: ASX Limited
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial development and deployment of the Daml platform.
- Venture Round
- Amount Raised: $60M
- Date: February 2016
- Lead Investors: GS Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the development of blockchain solutions and expand market reach.
- Series B
- Amount Raised: $40M
- Date: October 2017
- Lead Investors: Jefferson River Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the Daml platform and expand its application in financial services.
- Series C
- Amount Raised: $35M
- Date: December 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing projects and further develop the Daml platform.
- Series C
- Amount Raised: $45M
- Date: February 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue expanding the Daml platform and support strategic projects.
- Series D
- Amount Raised: $120M
- Date: April 2021
- Lead Investors: 7RIDGE, Eldridge Industries
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the global team by 50% and enhance product offerings, including a new interoperability protocol.
- Corporate Round
- Amount Raised: Not specified
- Date: May 2022
- Lead Investors: SBI Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and expand the Daml platform.
Total Amount Raised: $307.2M. Current Valuation: Not publicly disclosed.
Key Investors
- 7RIDGE
- Details: 7RIDGE is a private equity firm that invests in technology companies. Carsten Kengeter and Veronica Augustsson from 7RIDGE have joined Digital Asset's board.
- Investment Focus Areas: Technology, financial services.
- Notable Investments: Not specified.
- Eldridge
- Details: Eldridge is a diversified holding company with investments in various sectors including technology, media, and real estate. Michele Trogni, Operating Partner at Eldridge, commented on the investment in Digital Asset.
- Investment Focus Areas: Technology, media, financial services.
- Notable Investments: Not specified.
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focusing on enterprise cloud companies. They participated in a previous $45 million fundraising round for Digital Asset.
- Investment Focus Areas: Cloud computing, CRM, enterprise software.
- Notable Investments: Not specified.
- Samsung Ventures
- Details: Samsung Ventures is the venture capital arm of Samsung Group, a global leader in technology and consumer electronics. They participated in a previous $45 million fundraising round for Digital Asset.
- Investment Focus Areas: Technology, consumer electronics, semiconductors.
- Notable Investments: Not specified.
- VMware
- Details: VMware is a leading provider of multi-cloud services for all apps. They participated in a previous $45 million fundraising round for Digital Asset and provide the ledger for the ASX project.
- Investment Focus Areas: Cloud computing, virtualization technology.
- Notable Investments: Investment in Digital Asset, providing the ledger for the ASX project.
What's Next for Digital Asset?
Digital Asset is poised to capitalize on a multitude of opportunities, particularly in expanding its Daml platform across various sectors such as healthcare and insurance. The company's focus on interoperability and data synchronization positions it to attract clients looking to streamline their data management processes. With a recent $120 million Series D funding round, Digital Asset plans to expand its global workforce by 50% and enhance its product offerings, including a new interoperability protocol.
Future fundraising opportunities appear promising, given the strong backing from major investors like 7RIDGE and Eldridge. As the demand for data synchronization solutions grows, Digital Asset is well-positioned to secure additional investments to support its expansion. However, the company may face challenges such as competition from other blockchain technologies and ensuring seamless integration across diverse systems. Maintaining data privacy and security while enabling interoperability will also be crucial as they navigate the rapidly evolving technology landscape.
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