Crypto Infrastructure Firm Blockdaemon Raises $207M at $3.25B Valuation

Sapphire and Tiger Global led the latest round, which follows a $155 million Series B last September.

The unicorn valuations are still here despite the crypto market’s current sea of red, with Blockdaemon being the latest example.

The blockchain infrastructure firm said Wednesday it commanded a $3.25 billion post-money valuation after a $207 million Series C led by Sapphire and Tiger Global. Blockdaemon had been valued at $1.3 billion in its September 2021 Series B. Earlier Wednesday, crypto exchange FTX US announced a $400 million funding round that valued the firm at $8 billion.

Blockdaemon provides backend support for projects across a number of blockchains, with services that include everything from node operations to staking as a service.

“The digital asset class is here to stay, especially as financial services and publicly traded companies continue to enter the fray,” Sapphire’s Jai Das said in a statement, pointing to the need for secure, albeit unsexy, infrastructure support for “compliant and scalable participation in Web3/DeFi.”

Read more – Coindesk