Crypto

Goldman Sachs Invests $ 28 Million in Blockdaemon Series A Round

Blockdaemon has closed its Series A funding by providing $ 28 million from lead investor Greenspring Associates and receiving funding from the Goldman Sachs group.

Background

Blockdaemon from New York builds and hosts compute nodes that make up blockchain networks. Hence, they can be called the mainstream blockchain business. In fact, they are the leading independent blockchain infrastructure platform. Blockdaemon maintains 25 million registered users on the platforms they work with.

Last month, Goldman Sachs invested $ 15 million in Coin Metrics, a crypto firm providing cryptocurrency and blockchain data to institutional clients. The bank also contributed $ 5 million to the Blockdaemon Series A.

What is the future of blockdaemon?

They plan to use their A Series product to double their headcount to 100, as well as make multiple acquisitions. Adding capital to their already healthy balance sheet will allow Blockdaemon to continue to benefit from the explosive growth they’ve experienced, as well as the rest of the crypto economy over the past year.

When asked what he thinks about this fundraising closure, CEO and founder Konstantin Richter said the following.

“This funding represents an important step for Blockdaemon. With investments from leading FinTech providers and venture capitalists, this cycle will enable us to further expand our node infrastructure services, strengthen our growing team and strengthen our presence in emerging markets around the world, while deepening our existing strategic relationship with global financial services. institutions. As a trusted gateway to the blockchain industry for financial institutions of all sizes, Blockdaemon simplifies the complex, time consuming and costly node management process by providing enterprises with the most appropriate node configurations that enable them to rapidly scale up their operations.

This is the latest hit for the cryptocurrency space, which has recently seen a growing influx of institutional players as well as nation states. With many countries in Central and South America now accepting Bitcoin, cryptocurrency is rapidly becoming mainstream. Plus, Goldman plunged into crypto again this year after failing in the 2017 bull run.

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