Blockdaemon Raises $5.5M in Strategic Funding Round from Venture Capital Leaders
Leading blockchain infrastructure platform raises $5.5m with early backers and new investors
New York, NY - May 12, 2020 (Investorideas.com Newswire) Blockdaemon, the leading blockchain infrastructure platform for node management serving institutions and developers, today announced a strategic funding round of $5.5 million from leading venture capital (VC) firms focused on blockchain technology.
Blockdaemon's funding round is supported by a number of new investors including Hashkey, CoinShares, Blockchain.com, Kenetic, SPiCE VC and Fenbushi Capital. Early investors Comcast Ventures, Lerer Hippeau, Boldstart, and Heavybit will also continue their participation in the latest funding round.
Investor and advisor Meltem Demirors stated, "At CoinShares, we believe compute and connectivity will define the next decade of economic growth, and that blockchain networks and cryptocurrencies like Bitcoin are novel mechanisms for pricing network throughput. Blockdaemon is pioneering a new category of networking services that will be vital to providing the ability for governments, companies, and consumers to interact and transact securely on these networks."
Blockdaemon's node management platform helps auto-scale blockchain networks securely with enhanced monitoring, back-systems, HA clusters, APIs and cloud-managed node monitoring of on-premises solutions with our Blockchain Package Manager (BPM) - similar to an enhanced DataDog for blockchain nodes. Builders looking to interact with public, permissioned-based, and staking networks can connect to 30+ protocols through the Blockdaemon Marketplace.
"Handling node management and operations can be complicated, expensive, and can slow a project's velocity," said Konstantin Richter, CEO, and Founder of Blockdaemon. "The market demands a simplified way to handle node operation with strong enterprise security and easy transaction monitoring. With Blockdaemon, we help companies and developers connect to blockchain networks in minutes with high-availability nodes on-premises or in a cloud they choose."
Leveraging grants from leading protocols and foundations such as Oasis Protocol Foundation, Tezos, Celo, Web3 Foundation, and the Stellar Development Foundation, Blockdaemon has shipped easy-to-use integrations and transparent monitoring of uptime, speed, and support to arm users with key metrics and alerts. In addition to having advanced monitoring and analytics, Blockdaemon is internally ISO 27001 compliant, with enterprise-grade security and backup systems.
With over 250 institutional customers, Blockdaemon is trusted by the industry's leading networks, exchanges, enterprises, custodians, developers, and funds including Trust Wallet, Coinfund, Algorand Foundation, Wharton School of Business, Ledger, Blockchange Ventures, Slow Ventures, and BTC Markets. To better serve the European market, Blockdaemon is opening an office in Germany and entering into a partnership with the Frankfurt School of Finance & Management. Blockdaemon is also expanding their footprint in the Asia-Pacific markets alongside its new investors Hashkey, Fenbushi Capital, and Kenetic.
"As more DLT and token projects launch, it is clear that they need professional infrastructure to manage, scale and secure them." states Gil Beyda, Comcast Ventures Managing Director and Founder and Managing Partner of Genacast Ventures."Blockdaemon has already proven itself by managing some of the most notable projects in the world. We are excited to participate in this funding round because we believe Blockdaemon's team and platform can become the leading solution to a global problem."
In their next phase of growth, Blockdaemon is broadening its vision of infrastructure to include deeper financial reporting and APIs. Additionally, Blockdaemon will be contributing directly to the stability, resiliency and accessibility of payment-centric networks including Transparent Systems, Celo, MobileCoin and the Lightning Network, as well as supporting the success of ETH2.0.
About Blockdaemon:
Blockdaemon is the leading blockchain node infrastructure platform, internally ISO 27001 compliant, with enterprise-grade security and backup systems. Supporting 30+ protocols, 70 out-of-the-box node types, and monitoring plug-ins for cloud and on-premises services, Blockdaemon is used by exchanges, custodians, enterprises, financial institutions and 10k+ developers to connect commercial stakeholders to blockchains. Blockdaemon's mission is to simplify the process of deploying nodes and creating scalable enterprise blockchain solutions via APIs, BYOI, auto-decentralization and auto-healing of nodes.
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