SoftBank backs blockchain company Blockdaemon in $155m investment round

September 30, 2021

SoftBank backs blockchain company Blockdaemon in $155m investment round

Blockdaemon's blockchain company has raised $155m, with the Series B funding round led by SoftBank via Vision Fund 2.

We are proud to announce that we have raised $155M in investments, led by @SoftBank Vision Fund 2, with a valuation of $1.255B.

Matrix Capital Management, Sapphire Ventures and Morgan Creek Digital also participated in the funding round along with existing investors Boldstart Ventures, Goldman Sachs, Greenspring Associates, CoinFund, Kenetic, Kraken Ventures, Borderless Capital and Lerer Hippeau.

The startup, focused on deploying infrastructure for stacking and node management, has reached a valuation of $1.26bn.

Blockdaemon supports more than 40 blockchains, including bitcoin, Ethereum 2.0, Solana, Terra, Cardano and Polkadot.

The number of managed nodes has increased from 8,000 to 18,000 in the past three months, according to the company. Stacking assets have reached $10 billion, with Blockdaemon present in 70 countries around the world.

The company will use the funding to expand further internationally and increase its headcount. Blockdaemon has not ruled out takeovers of other players.

The next stage of development will be to unify protocol access through APIs, expand financial reporting capabilities for institutions and further develop infrastructure, the company said.

Recall that the company raised $28m in a Series A funding round in June.

JPMorgan analysts previously estimated the steaming market at $40bn by 2025.

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