Blockdaemon posts $3.25bn valuation following close of $207m funding round

Blockchain infrastructure leader Blockdaemon has closed a Series C funding round of $207 million and reported a post-money valuation of $3.25 billion.

The institutionally-focused infrastructure provider, which enables easier access to node management and staking services, will use the capital to accelerate strategic acquisitions, enhance and bolster its full-stack product suite and launch a fund to reinvest earned assets via a DeFi fund.

The round was led by major investment funds including Sapphire and Tiger Global, with participation from existing investors including SoftBank and Boldstart Ventures also included. Leading asset manager Galaxy Digital also joined Blockdaemon’s cap table.

Blockdaemon enables participants such as exchanges, custodians, crypto platforms and financial institutions to stake and earn yields via nodes across 50+ blockchain networks including Eth2, Bitcoin, Solana, Terra, Cardano, Polkadot, Cosmos and the Lightning Network.

Konstantin Richter, CEO and founder of Blockdaemon, commented on the growth of the platform over the past year and its commitment to DeFi.

“Over the last 12 months, Blockdaemon has seen massive growth across all metrics and raised substantial capital to continue bridging institutions onto protocols in a safe and secure manner,” he said.

“Blockdaemon is committed to the future of decentralized finance, and to facilitate its adoption by legacy financial firms via secure, stable and regulatable on-and off-ramps that help grow the entire blockchain ecosystem.”

In addition to the fundraising, Blockdaemon also announced a partnership with Stakewise in a bid to “serve a growing demand for products with DeFi access from our institutional clients”. The partnership will build an institutional-grade, KYC-based liquid staking product on the Ethereum network.

It previously raised $155 million in Series B funding in September 2021 with a valuation of $1.26 billion.