Goldman Sachs joins $28 million Series A for blockchain infrastructure firm Blockdaemon

Jun 8, 2021 | The Block News | 0 comments

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Blockdaemon, a blockchain firm that provides crypto staking and node management infrastructure, has raised $28 million in a Series A funding round.

The round was led by Greenspring Associates, with participation from Goldman Sachs, BlockFi, Voyager Digital, Uphold, and others. Goldman Sachs, in particular, invested $5 million, Blockdaemon founder and CEO Konstantin Richter told The Block. The bank will also join Blockdaemon as “board observers,” said Richter.

Blockdaemon’s existing investors, including CoinShares, Borderless Capital, and Blockchain.com Ventures, also participated in the Series A.

With fresh capital at hand, Blockdaemon plans to double its headcount to 100 by the end of this year by hiring mostly engineers, Richter told The Block.

Founded in 2017, the New York-based firm says it has seen its business grow in recent months. Richter said Blockdaemon now has over 100 institutional clients, including crypto natives and traditional financial services firms.

These clients rely on Blockdaemon’s staking infrastructure to let their end users earn yields on their coin holdings. Blockdaemon says it has deployed over 10,000 nodes across 40 blockchain networks and global regions.

The Series A brings Blockdaemon’s total funding to date to around $40 million, Richter told The Block. He declined to comment on the firm’s valuation.

As for Goldman Sachs, the megabank also invested in crypto data firm Coin Metrics last month. It led the firm’s $15 million Series B funding round at the time.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

News Source from TheBlockCrypto.com

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