Quick take:
- The fundraising also attracted participation from Google Ventures, Variant and Cyberstarts.
- The Series B round brings the total raised to $83 million following a $6 million seed round and a $27 million Series A announced in 2023.
- The company claims to have secured over $101 billion in assets and prevented more than $5.3 billion in potential losses.
Blockaid has raised $50 million in a Series B round led by Ribbit Capital. The fundraising also attracted participation from new investor Google Ventures and existing investors Variant and Cyberstarts.
The Israeli Web3 security firm has now raised $83 million in total, including a $6 million seed round and a $27 million Series, both announced when it emerged from stealth in October 2023.
The company plans to use the fresh capital to expand operations and R&D to keep up with demand. Blockaid claims its blockchain-based security service has helped secure over $101 billion in assets and prevented more than $5.3 billion in potential losses.
Some of Blockaid’s biggest blockchain companies include Coinbase, Metamask, Stellar, Uniswap, and World App.
Explaining the role his company plays in the blockchain space, co-founder and CEO Ido Ben-Natan said in a statement: “While the blockchain itself is secure, on-chain applications and the users that interact with them are at risk. Both consumers and organizations face threats from advanced actors and nation-states from the day new projects launch. While early solutions focused on catching criminals, we stop onchain-related crime at scale.”
According to Ben-Natan, as Fintechs like Stripe and institutions like J.P. Morgan, Fidelity, and UBS continue to scale their blockchain initiatives, Blockaid will look to be their cybersecurity of choice, securing every on-chain transaction.
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