Blockdaemon Raises $155M At Valuation Of $1.3 Billion

Blockdaemon, Blockchain Infrastructure Firm, announced that it has raised $155 million in a Series B capital round, giving the company a valuation of $1.3 billion.
Well, the funding is the biggest for any blockchain node infrastructure provider in the industry to date. SoftBank Vision Fund 2 led the funding, with participation from Matrix Capital Management, Sapphire Ventures and Morgan Creek Digital.
With this round of funding, Blockdaemon said, it has become the world’s largest blockchain infrastructure company for node management and staking. Blockdaemon will utilize the capital raised to expand its team presence in Singapore, Japan, the UK and Germany. The fund will also allow the company to make strategic acquisitions and to build out its already robust tech stack.
Source: Blockdaemon
As part of the B round, the existing seed round investors including Boldstart Ventures, Goldman Sachs, Borderless Capital, CoinFund, Kenetic, Greenspring Associates, Kraken Ventures, and Lerer Hippeau also increased their investments.
Blockdaemon said that this round is a testament to its investors’ institutional support of a robust foundation for the blockchain industry’s future. The company offers easy reach to new financial infrastructure for a wide variety of market participants from large financial institutions, exchanges and custodians to small, agile crypto native firms and developers.
The company said that it will use this new round to further grow its regulatory and compliance functions, along with investing in international diversification. Blockdaemon also has plans to expand into offering liquidity solutions for large-scale institutional adoption, starting with ETH 2.0, as the company is already active there and running over 12,000 validators, which makes Blockdaemon the largest operator in the ETH 2.0 space.
Blockdaemon also announced that in last year it has gained a 70 fold increase in valuation, a 20-time increase in revenue and a 5-time increase in headcount. The company has averaged more than $10bn in staked assets across the +40 protocols it support. In the past 6 months, the company has launched over 10,000 Eth 2.0 validators across its global network of premium and eco-friendly data centers, from cloud to bare metal.