Blockdaemon, a blockchain infrastructure provider, has raised $155 million in its Series B funding round, which will aid its expansion plans to make acquisitions in the crypto infrastructure market. The funding round had the participation of Goldman Sachs, Softbank Vision Fund 2, Matrix Capital Management, Sapphire Ventures, and Morgan Creek Digital, among others.
Blockdaemon Raises $155 Million in Series B Funding Round
Blockdaemon, one of the leading node infrastructure providers, has raised $155 million in its latest Series B funding round. The company, which specializes in providing node support for other companies to simplify access to blockchains, will use these funds to cement its position as the leading infrastructure provider for businesses and institutions. Matrix Capital Management, Sapphire Ventures, Goldman Sachs, Kraken Ventures, Morgan Creek Digital, and Coinfund participated in the funding round.
This funding round puts Blockdaemon at a valuation of $1.255 billion, making it one of the leaders of the industry. The company has experienced a resurgence in providing its services this year with the recent bull market, and is now responsible for 10,000 ETH 2.0 validators and has more than $70 billion in staked assets.
Konstantin Richter, founder and CEO of Blockdaemon, stated:
This latest large infusion of capital is another major milestone for Blockdaemon and will ensure that we continue to revitalize existing financial infrastructure around the globe.
Hiring and Acquisitions Coming
The company plans to increase its headcount, sourcing talent from countries like Singapore, Japan, the U.K., and Germany. Also, Blockdaemon is planning to funnel these funds to make strategic acquisitions that will help it create new products and deepen the integration these have with each one of the blockchains with which they interact.
Oli Harris, North America head of digital assets at Goldman Sachs, stated:
Goldman Sachs is very pleased to continue our relationship with and investment in Blockdaemon as they continue to innovate for the financial services industry. We believe Blockdaemon has a key role to play in the future of blockchain and crypto adoption.
Blockdaemon stepped up its game in this latest funding round, going from raising $28 million in its Series A, in which Goldman Sachs also participated, to the $155 million raised this time around. Since then, the valuation of the company has risen significantly, as well as the number of institutional customers that use Blockdaemon’s services for day-to-day operations.
What do you think about Blockdaemon’s latest funding round? Tell us in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.