Blockdaemon Hits Unicorn Status in Latest Funding Round

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In Brief
  • The latest series B funding round brings the company to a $1.255 billion valuation.

  • SoftBank, Kraken Ventures, Morgan Creek among backers.

  • Blockdaemon supports over 40 major blockchain networks.

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The blockchain infrastructure platform Blockdaemon reached a $1.255 billion valuation after its latest funding round with major backers. 

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Blockdaemon’s latest funding round pushed the company into the unicorn category. The Japanese investment firm SoftBank Vision 2 fund hosted the Series B funding round. Other notable funders included Goldman Sachs, Matrix Capital, Morgan Creek, and Kraken Ventures.

The blockchain company supports over 40 blockchain networks, which includes ETH 2.0, Bitcoin, Solana, Cardano, and Polkadot. In addition, Blockdaemon powers the foundation for digital coin transactions on some of the world’s largest exchanges. 

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According to Konstantin Richter, the CEO and founder of Blockdaemon, the company has goals for mass-market expansion. “We are looking to bring crypto and decentralized finance (DeFi) to a global mass-market, in a regulated, compliant manner,” he commented. “We expect that to require extensive resources to work with regulators, as well as rapid international expansion.”

These latest funds will go towards additional hiring in the company’s global offices in  Singapore, Japan, the U.K., and Germany and plans for more substantial company acquisitions. 

Investing in the Future

Earlier this year Goldman Sachs made headlines for investments in the Series A funding round for Blockdaemon. During this round, the company raised over $28 million. Before that, the investment bank sank money into other blockchain and crypto projects such as Blockfi. 

This round’s big-ticket name was the leader of the Series B round, SoftBank. The Japanese investment firm has a good track record of financing large projects in the crypto space. Back in mid-July of this year, SoftBank led a funding round for the fantasy football platform Sorare. The round accumulated $530 million in monetary support. 

Shortly after the funding round for Sorare, SoftBank sank funds into the upcoming Bullish crypto exchange. During this venture, the company invested $75 million in the new exchange. 

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Savannah Fortis is a multimedia journalist covering stories at the intersection culture, international relations, and technology. Through her travels she was introduced to the crypto-community back in 2017 and has been interacting with the space since.

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