Blockdaemon: The leading provider of blockchain infrastructure
Blockdaemon is proud to announce that it has raised $155 million in Series B funding, led by Oak HC/FT, a venture capital firm specializing in healthcare and financial services technology.
This funding round underscores investor confidence in Blockdaemon’s continued success and marks a new milestone in the company’s journey to becoming the leading blockchain infrastructure provider.
This round of funding will allow Blockdaemon to further expand its current offerings and explore new opportunities to deliver innovative blockchain infrastructure solutions for developers, enterprises, and consumers.
Overview of Blockdaemon
Blockdaemon is the leading blockchain infrastructure provider, aiming to accelerate digital infrastructure investment and development. Founded in 2017, Blockdaemon provides enterprise customers with a comprehensive blockchain node platform that allows them to quickly deploy nodes and get connected in minutes, regardless of technology.
Since its beginning, Blockdaemon has already raised $26 million in Series A funding, led by Tencent. Looking further at their recent success with additional Series B funding amounting to $155 million from heavy hitters like Battery Ventures, Consensys and Digital Currency Group (DCG) who joined previous investors Craft Ventures, coinbase ventures and Two Sigma ventures amongst other powerhouse investors. The new funding will help to expand Blockdaemons offerings across Asia, Europe and the US to help support their goal of decentralizing finance through accessible infrastructure solutions.
Overview of the Series B Funding
Blockdaemon, a leading provider of managed blockchain infrastructure solutions, announced today that it had secured USD 155 Million in a Series B funding. This is the largest venture capital raise for the blockchain technology space. Coatue Management led the investment, with participation from SignalFire and Asian investors Iconiq Strategic Partners, Mirae Asset Ventures and Softbank Ventures Asia.
The Series B funding will allow Blockdaemon to expand its software engineering and product teams, accelerate growth into new markets such as India, China and Japan, continue the development of its popular Node Management Platform and open the doors for third party marketplace integration of services such as layer two scaling solutions.
Blockdaemon is pioneering an industry where it can ensure instant onboarding on multiple cloud providers and bare metal infrastructure with built-in monitoring capabilities. This round of investments will further help Blockdaemon pursue its mission to offer businesses secure interconnectivity between nodes and systems, focusing on user adoption across geographies. With these funds under their belt, Blockdaemon is laying the foundation for developing an Infrastructure-as-a-Service platform that allows any enterprise or developer to set up nodes on any blockchain network in just a few minutes.
Benefits of Blockchain Infrastructure
Blockchain Infrastructure, such as the one provided by Blockdaemon, can provide various benefits for businesses looking for a secure, reliable, and cost-efficient way of managing their data and transactions.
From the ability to do peer-to-peer transactions in record time to increased transparency, the benefits of blockchain infrastructure can be utilized in various industries.
Let’s take a closer look at the benefits of blockchain infrastructure provided by Blockdaemon.
Increased Speed and Efficiency
Blockchain technology helps to increase speed and efficiency in many ways. For example, transactions are securely stored on a decentralized network, eliminating the need for multiple intermediaries and allowing for quicker processing times. This reduces the risk of fraud and double-spending, increases accuracy, and eliminates time-consuming manual processes. These benefits lead to faster and more efficient transactions, saving businesses time and money.
In addition, blockchain infrastructure can speed up the reconciliation process by automatically reconciling data between parties involved. This decreases manual entry errors, reduces delays in payment processes, and improves quality of data records due to their immutable nature. This can also be extended to other areas such as insurance claims processing or loan origination by increasing transparency between parties.
By leveraging the secure infrastructure provided by blockchains like Ethereum or Bitcoin, businesses can process transactions instantly, securely and trustworthily across multiple intermediate steps while lowering costs associated with intermediary banks or financial services organizations. This results in increased efficiency that enables companies to become more competitive while allowing them to remain compliant with existing regulations.
Improved Security and Transparency
Blockchain is a decentralized digital ledger that records transactions on a distributed network. Blockchain technology can benefit the infrastructure it supports, including improved security and transparency.
Blockchain, as a distributed and decentralized system, ensures that information stored in the network is secure and immutable. Its distributed nature enables all participating users to access the data stored across multiple computers and consensus-based trust and automated checks before executing transactions. As a result of this, malicious attempts to edit or tamper with data are significantly reduced. Furthermore, any changes made to data can be detected and addressed in real time due to its decentralization, hence improving data security on the platform.
In addition, blockchain-based platforms enable enhanced transparency due to their open source nature. All participants in the network have access to detailed information about each transaction that takes place on the chain which can easily be tracked back and verified by anyone at any point without involving third parties thus eliminating any form of fraud or discrepancies. This ability for user-driven auditing helps ensure network integrity by greatly reducing opportunities for mistakes or misconduct within the chain, proving beneficial for companies operating in highly regulated spaces.
The use of blockchain-based infrastructure can result in substantial cost savings. With its distributed ledger technology, blockchain reduces the need for intermediaries and provides an automated process for verifying and recording transactions. As a result, transactions can happen quickly, securely and cost-effectively, significantly reducing transaction costs compared to traditional processes.
Blockchain also reduces IT costs by removing the need for manual data processing by eliminating redundant data entry across multiple systems. Overall, blockchain saves time, money and speeds up the entire process while providing better security than Web 2.0 applications that record business transactions.
Blockdaemon’s Impact on the Industry
Blockdaemon is the leading blockchain infrastructure provider, making it easier for enterprises and developers to launch, operate and manage blockchain networks. With the $155 Million Series B Funding they recently raised, Blockdaemon continues making waves in the industry.
Let’s take a look at what this means for the blockchain community.
Expanding the Use Cases of Blockchain
Blockchain can solve a wide range of problems, ranging from increased security to enabling faster transaction times. For example, financial institutions are leveraging blockchain technology to reduce risk by increasing transparency and cutting down on human errors due to the distributed ledgers maintained on the blockchain. Similarly, healthcare organizations leverage blockchain to create secure and seamless ways to manage healthcare records while enabling easier data sharing between providers and patients.
Blockdaemon has been working hard over the past year to expand blockchain’s possibilities with its advanced set of tools and services. Blockdaemon recently closed a massive Series B funding round of $155million which will allow it to expand its offerings even further. These resources include educational resources like simplified documentation and tutorials offering developers easy access via APIs; dedicated enterprise client service teams for consulting; implementation services such as Node-as-a-Service (NaaS) which allow users to set up a node with no prior programming knowledge; infrastructure solutions like multi-cloud deployment solutions capable of hosting different implementations of decentralized applications (Dapps) on different networks; APIs so developers can integrate their apps quickly with blockchains, and more.
As the industry leader in blockchain infrastructure workloads with thousands of unique nodes installed across hundreds of deployments, Blockdaemon is at the forefront of making business use cases utilizing this exciting new technology available quickly and securely for businesses. In addition, they aim to make powerful tools accessible for everyone interested in or involved in this cutting-edge space.
Making Blockchain Accessible to Everyone
Blockdaemon is the leading blockchain infrastructure provider, delivering flexible, secure, and cost-effective services. With their comprehensive suite of products and innovative solutions, Blockdaemon aims to make blockchain technology accessible to everyone so that organizations can drive adoption and realize the benefits of its technology for real-world projects. The company provides a wide selection of services such as private networks with full node control, node deployment across multiple protocols, enterprise-grade support and professional services.
Blockdaemon has always been one step ahead in making new technologies available to its users. This recently led to Blockdaemon’s $155 million Series B funding round in March 2021, the largest ever raised for a blockchain infrastructure company. This money will help facilitate global expansion for Blockdaemon’s growing customer base and advance their efforts in building accessible but resilient Web 3 infrastructure solutions.
The funds will enable Blockdaemon to continue its mission in replacing legacy product offerings by bringing Web 3 products into an agile environment where businesses can build high quality applications quickly and securely at scale. In addition, the Series B funding result strengthens Blockdaemon’s position as an industry leader in democratizing access & powering organizations that are looking to build on Ethereum or any other major networks & protocols across multiple regions globally.
Announcing Blockdaemon’s $155 Million Series B Funding
Blockdaemon announced their Series B funding of $155 million, showing the world that blockchain infrastructure is booming. This investment comes at a crucial time, as more and more businesses are exploring blockchain technology opportunities.
We will examine Blockdaemon’s Series B funding and what it means for the industry.
List of Investors
Blockdaemon is proud to announce the successful completion of our Series B funding round, raising $155 million. In addition, we are grateful to have had the opportunity to collaborate with some of the industry’s largest Venture Capital and Private Equity firms. Our strengthened portfolio enables us — as the leading blockchain infrastructure provider — to continue driving development efforts and investments into our suite of solutions, enabling new and existing customers to quickly ignite their blockchain-based solutions with much-needed infrastructure products for decentralized computing services.
We’d like to thank everyone involved in this round — it has been an incredible success! The following are just a few of the esteemed partners we worked with:
- Benchmark Capital
- Leaps by Bayer (AP IX)
- NSI Ventures (Innovation Network Corporation of Japan)
- Neuberger Berman Private Equity
- Coatue Management
- Galaxy Digital Ventures
- Fatfish Blockchain Ventures
How the Funds Will be Used
Blockdaemon, the leading blockchain infrastructure provider, has announced a successful conclusion to its Series B financing round with total funding raised over $155 million. The round was led by Goldman Sachs, with continued support from existing investors Lux Capital, Arena Ventures and Verizon Ventures. This brings Blockdaemon’s lifetime equity investments to over $220 million.
Blockdaemon seeks to use this influx of funds to quickly expand its operations and further platform development. Blockdaemon continuously improves its software architecture, introducing new features such as one-click smart contracts deployment and making services faster and more secure. This new capital will enable Blockdaemon to more quickly scale up operations to support the ever-increasing demands of developers for advanced blockchain services.
The new funding supports Blockdaemon in driving global adoption amongst enterprise clients and significantly expanding their service offerings. In 2021, our platform will introduce stateful node services (such as Plasma or Filecoin miners) and enterprise cloud solutions. We believe these advancements take us one step closer to developing an infrastructure that supports a thriving decentralized web of cross-chain interoperable protocols
Finally, part of this new funding will also finance strategic acquisitions within the space aligned with our mission, which is building an innovative framework for integrating all distributed ledger technologies into one unified layer across clouds and regions worldwide.
Impact on the Industry
Blockdaemon’s recent $155 million Series B funding round, the largest in the blockchain infrastructure space to date, signals a strong endorsement of the industry and the potential for significant growth. The capital invested will support continued growth and market expansion and fund new product development and research.
The funding comes from several successful collaborations with major companies such as Visa, Microsoft and ConsenSys that have helped propel Blockdaemon’s growth into new industries, regions and technology applications. In addition, this investment indicates a renewed interest in enterprise-level blockchain projects from leading corporates and venture capital investors.
The influx of capital shows that companies are willing to invest in infrastructure-as-a-service (IaaS) solutions such as those provided by Blockdaemon when handling their distributed ledger networks securely and efficiently. Furthermore, it serves notice to competitors that automated node management is becoming increasingly critical for enterprise adoption across various industries.
By providing an end-to-end solution for blockchain infrastructure deployment, monitoring, scaling, management and security across 18 protocols – from Ethereum to IOTA – Blockdaemon is at the forefront of enabling interoperability between different networks for major corporate applications spanning such areas as finance, media and eCommerce. In addition, its industry leading platform facilitates faster consensus speeds through protocol optimization while enhancing data privacy with innovative zero-trust signing options powered by digital wallets like Ledger or Trezor.
With this latest fundraise showing that investors are committed to supporting long term services within this growing industry while providing essential resources necessary in enabling large scale adoption of blockchain technologies on an enterprise level, Blockdaemon’s ability to scale its offering has been drastically improved; opening up greater opportunities for clients world wide seeking out high performance solutions to their trustless computing needs.
Blockdaemon has established itself as the leader in blockchain infrastructure, providing seamless, cross-chain node deployment and management for enterprise clients. With the successful completion of their $155 Million Series B funding, Blockdaemon is well-positioned to scale their infrastructure and continue to drive innovation in the blockchain space.