Blockdaemon Raises $28 Million In Series A Funding To Help Institutions Quickly And Securely Scale Blockchain Infrastructure

Round Is Led By Greenspring Associates, WithParticipation From Goldman Sachs, CoinShares, BlockFi, Uphold, Voyager Digital Ltd. and Other Existing Investors

Blockdaemon, the leading independent blockchain infrastructure platform powering 25 million registered users across the platforms they support, has announced that it has closed USD $28 million in its Series A funding round, led by Greenspring Associates, with participation from Goldman Sachs, BlockFi, Warburg Serres, Uphold, Voyager Digital Ltd., Illuminate Financial, and Hard Yaka. Existing seed round investors Boldstart Ventures, Coinfund, Kenetic, CoinShares, Borderless Capital, Blockchain.com Ventures, Lerer Hippeau and Heavybit increased their investments, showcasing their continued commitment to a long-term technology partnership.

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“Konstantin and the Blockdaemon team have done a phenomenal job of making the entry point to blockchain easy and secure, and we look forward to working with them on their next stage of growth.”

Konstantin Richter, CEO and Founder of Blockdaemon, said, “This funding represents a significant milestone for Blockdaemon. With investment from industry leading financial technology providers and VC firms, this round will enable us to further expand our node infrastructure services, add to our growing team, and strengthen our presence in emerging markets across the globe while deepening our existing strategic relationships with global financial institutions. As the trusted gateway to the blockchain industry for financial institutions of all sizes, Blockdaemon simplifies the complicated, time consuming and costly node management process by providing enterprises with the best-fit node configurations that allow them to rapidly scale up operations.”

This funding round adds capital to the explosive growth Blockdaemon has experienced over the past year as they have deployed more than 10,000 nodes across 40 blockchain networks and 20 global regions. Having significantly increased its headcount over the past 12 months, including deepening its executive talent with the appointment of Cecily Mak as Chief Operating Officer and Demetrios Skalkotos as Global Senior Vice President of Sales; Blockdaemon will expand global headcount further following this round. Blockdaemon has averaged more than $5 billion in staked assets and is on track to have upwards of $50 billion by year end. This Series A round demonstrates the significant global commitment to revitalizing existing financial infrastructure by incumbent financial services firms.

“Blockdaemon has demonstrated that enterprises need a simple way to build secure blockchain infrastructure,” said Hunter Somerville, General Partner of Greenspring Associates. “Konstantin and the Blockdaemon team have done a phenomenal job of making the entry point to blockchain easy and secure, and we look forward to working with them on their next stage of growth.”

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Blockdaemon is the foundational layer to the blockchain industry, enabling participants to stake and deploy nodes with institutional-grade security, scalability, and reliability. Supporting 40+ cutting edge blockchain networks including ETH 2.0, Bitcoin, Cardano, Polkadot, Cosmos, SKALE, MobileCoin, and the Lightning Network in the cloud and on-premise through the Blockdaemon Marketplace, Blockdaemon offers access to new financial infrastructure for a variety of market participants, from large financial institutions, exchanges and custodians to small, agile crypto native firms and developers. It is trusted across the blockchain ecosystem including industry’s leading networks, exchanges, enterprises, custodians, developers, and funds. With a 10x growth in revenue since the beginning of the year, Blockdaemon plans to accelerate future growth through targeted acquisitions.

“Blockchain is a key driver of innovation in the financial services industry and Blockdaemon is powering its infrastructure. We are excited to join them as they continue to provide institutional-grade blockchain technology to all that want to leverage it,” commented Oli Harris, North America head of digital assets at Goldman Sachs.

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