Blockdaemon Receives $155 Million in Series B Funding

Blockdaemon Receives $155 Million in Series B Funding

SoftBank Vision Fund 2 led the recent investment round.

Blockdaemon, one of the leading independent blockchain infrastructure platforms, recently announced that the company has secured $155 million in funding at a valuation of $1.255 billion.

The recent Series B funding round was led by SoftBank Vision Fund 2. The latest funding announcement came nearly 3 months after the blockchain firm raised $28 million in its Series A investment round. In the recent announcement, Blockdaemon highlighted its significant growth in the last 90 days.

Blockdaemon mentioned that the company has increased its managed node count from 8,000 to 18,000. The firm saw a substantial jump in its valuation and revenues during the last 12 months.

In addition to SoftBank Vision Fund 2, Matrix Capital Management, Sapphire Ventures, and Morgan Creek Digital also participated in the Series B round.

Commenting on the latest announcement, Konstantin Richter, CEO and Founder of Blockdaemon, said, “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. We are committed to a future of decentralized financial infrastructure and accelerating the ease of integration to bridge traditional banking to the crypto ecosystem.”

“As regulations get further defined, a backer of the caliber of SoftBank and Masas experience is crucial. We are deeply gratified to have the support and confidence of the financial, tech, and VC titans who made this latest round possible,” Richter added.

Over the past year, Blockdaemon launched more than 10,000 ETH 2.0 validators. The blockchain platform also added multiple layers of risk mitigation with regional and data center diversification.

Funding

Through the latest funds, Blockdaemon aims to make strategic acquisitions. The company is also planning to hire new talent in Singapore, Japan, Germany, and the UK.

“The next stage of strategy will be to bridge access to protocols via APIs, expand financial reporting capabilities for institutions, and deepen its infrastructure capabilities to ease integration for the next phase of the blockchain ecosystem,” Blockdaemon added.