Blockdaemon’s newest Series C funding round furthers our mission to connect institutions to blockchains with a single integration.
Today, we celebrate an important moment in Blockdaemon’s journey. We are proud to announce we have raised $207 million in investments from our partners, at a valuation of $3.25 billion. Blockdaemon continues to be the world’s largest blockchain infrastructure company for node management and staking.
This round was led by Sapphire Ventures and Tiger Global. There was participation from existing investors Softbank Vision Fund 2*, Boldstart Ventures, StepStone Group, Matrix Capital Management, Lerer Hippeau and Kenetic. It also saw Galaxy Digital join the cap table.
In this blog we’ll highlight
- Our Investors’ Belief in Blockdaemon’s Mission
- The Importance of Blockchain’s Open Source Ecosystem
- Successfully Building a Total Blockchain ‘Node Stack’
- The Path Ahead
Our Investors’ Belief in Blockdaemon’s Mission
This milestone highlights our investors’ belief in Blockdaemon’s mission: to connect institutions to blockchains with one integration.
The surge in demand for blockchain based products and services over the past year highlights the importance of this mission. Our institutional-grade infrastructure is the foundational layer for the blockchain industry.
We are the reliable backbone supporting institutions as they serve their customers. The quality of our service remains high, even during times of peak demand and volatility in the market. Our robust and scalable offerings are the bedrock on which companies start, grow and scale their crypto solutions.
The Importance of Blockchain’s Open Source Ecosystem
As we reflect on 2021, it’s important for us to recognize the role open source technology plays in our product portfolio. Public blockchains are, after all, open source.
We have long recognized the fundamental importance that open source contributors have made towards the success of our industry. Because of this, we’re cultivating Blockdaemon’s Open Source Ecosystem Initiative.
This innovative initiative will improve the open source ecosystem that Blockdaemon and others rely on. This includes improved node software, crypto libraries and public documentation. It also involves new toolsets to increase the resilience of these business critical public systems.
Open source resources must be carefully cultivated for all crypto projects to succeed.
Commercial successes in the crypto industry often borrow from open source technology. However, open source needs contributions from those beneficiaries. Without that support, open source falls victim to the tragedy of the commons. Blockdaemon will help build and maintain tooling that increases the resilience among business critical public systems.
Successfully Building a Total Blockchain ‘Node Stack’
Our offerings (built on top of public, open source networks) have allowed us to successfully develop a total ‘node stack’. This stack is a broad constellation of products used by institutions to navigate the blockchain ecosystem.
We are constantly making it even easier for financial institutions to access blockchain services by continuously improving our node stack.
With our node stack, institutions can access transaction nodes, staking, custodial APIs, liquidity options and high availability (HA) clusters. HA clusters specifically deliver our most resilient and consistent service. WIthin our HA clusters, redundant machines seamlessly handle node failures, surges in demand and any other turbulence that may arise. Blockdaemon’s Ethereum service, for example, benefits from such HA clusters.
Our stack is used by a variety of companies, including financial institutions, custodians and developers.
The Path Ahead
The decentralized future is coming. We are among those building this future, and are committed to connecting institutions with blockchains. We partner with and invest in those aligned with our purpose.
For this reason, we’ve partnered with StakeWise, allowing institutions to access the world of DeFi, through a KYC-only platform. This partnership will build an Ethereum hosted liquid staking solution for staking and leveraging derivative tokens.
Our solution will let clients (with rigorous compliance standards) utilize staked capital for many DeFi use-cases. These use-cases include borrowing, lending, option writing, liquidity provision and waging on interest rates via other compliant DeFi applications. A testnet for this platform will soon be available in the coming weeks.
We’ve also strategically invested in Obol Labs. Obol are a trust minimized staking protocol for public blockchain networks based on Distributed Validator Technology (DVT).
Our focus on strategic acquisitions remains steadfast. We’ll continue to explore acquisition opportunities to follow the successful onboarding of Lunie and Anyblock Analytics. Lunie is a staking and governance platform for proof-of-stake cryptocurrencies. Anyblock Analytics is an infrastructure platform, providing API, on-chain analytic tools, monitoring, and innovative NFT offerings.
DeFi and CeFi Launches
With this round we are also launching a DeFi Fund. This fund will reinvest earned assets into institutional grade DeFi offerings.
We are also creating Centralized Finance (CeFi) solutions for customers with a strong regulatory focus.
We will leverage these funds to make structured investments in the crypto and blockchain ecosystem.
If you want to learn more about Blockdaemon services, products and careers, get in touch with us today.