Blockdaemon, a blockchain infrastructure firm, secures investment from Tiger Global Management and JPMorgan Chase Strategic Investments. The firm also announces the acquisition of blockchain infrastructure platform Anyblock Analytics.
What Blockdaemon Does?
Blockdaemon provides blockchain node infrastructure to stake, scale, and deploy nodes with institutional-grade security and monitoring. Supporting 40+ cutting edge blockchain networks in the cloud and on bare metal servers globally, Blockdaemon is used by exchanges, custodians, crypto platforms, financial institutions and developers to connect commercial stakeholders to blockchains.
Blockdaemon simplifies the process of deploying nodes and creating scalable enterprise blockchain solutions via APIs, high availability clusters, auto-decentralization and auto-healing of nodes.
Blockdaemon announced that it has experienced incredible growth over the past year. The company witnessed its valuation growing by 70x; its revenues by 20x; and its headcount by 5x. In addition, the company launched more than 25,000 nodes, averaging more than $10 billion in staked assets monthly and greatly expanded its presence globally in cloud regions and diversified data centers.
Big Firms Back Blockdaemon
Blockdaemon already counts Softbank Group Corp. and Goldman Sachs Group Inc. among existing backers and in September had said the Series B round valued it at $1.255 billion.
Tiger Global Management and JPMorgan Chase’s investment demonstrates the respected firms’ increased interest in cryptocurrency and blockchain as they become more mainstream.
Konstantin Richter, CEO and Founder, Blockdaemon, said:
“We are pleased to have Tiger Global and JPMorgan Chase join as strategic investors as we continue to power the blockchain economy around the world with our robust financial infrastructure, making it easier for banks and other institutions to tap into the crypto universe.”
Tiger Global is leading the charge in key tech startup investments focused on long-term investments in high-quality companies in growth stages that are led by stellar management teams and consistent deep engineering talent.
Read Also: Blockchain IaaS Firm QuickNode Secures $35M Series A Led By Tiger Global
John Curtius, Partner at Tiger Global, commented:
“Over the past year, Tiger Global has been strategically investing in the most promising companies in cryptocurrency and Blockdaemon’s contributions to the blockchain ecosystem and its rapid growth as a company fits well with our portfolio.”
JPMorgan Chase has been a global leader in blockchain for the last six years and has scaled the work into its Onyx by J.P. Morgan business unit, which aims to re-architect the way that money, information and assets are moving around the world using blockchain. One example of Onyx’s offerings is Liink, the first blockchain based information exchange network offered by a global bank to support payments transactions.
Read Also: Onyx – JPMorgan new business unit to manage its blockchain and digital currency solutions
Umar Farooq, CEO, Onyx by J.P. Morgan, said:
“Making a strategic investment in Blockdaemon is a logical next step in our multi-layered approach to investing in blockchain technology and we’re pleased to participate in the funding round as they continue to grow and scale their business.”
Read Also: JPMorgan rebrands its blockchain-based Interbank Information Network (IIN) as Liink
Blockdaemon Acquires German Blockchain Infrastructure Platform Anyblock Analytics
Blockdaemon also announces acquisition of German blockchain infrastructure company Anyblock Analytics. Anyblock Analytics provides API, on-chain analytic tools, monitoring, and node hosting services across various blockchain networks.
As part of the acquisition, Anyblock’s team will be joining Blockdaemon, continuing Blockdaemon’s expansion in Europe by establishing a local presence in Germany.
Read Also: India’s Largest Public Sector Bank SBI Joins JPMorgan’s Blockchain Payment Network Liink
Commenting on the deal, Anyblock CEO Peter Eulberg, said:
“All of us are thrilled to join forces with Blockdaemon as our services and teams supplement each other nicely. We want to thank everyone that has gotten us to this point! Now we are looking forward to helping accelerate Blockdaemon’s growth even further and extending our relationships in the various ecosystems.”
The Anyblock Analytics’ acquisition significantly strengthens Blockdaemon’s suite of offerings by expanding its Ubiquity data API capabilities in particular. As Blockdaemon also deepens its infrastructure support for the NFT space, the team and tooling from Anyblock will help support powering transactions behind the NFT ecosystem.
“We are also delighted to acquire Anyblock, which will allow us to integrate its Blockchain Data API solution for bridging access to protocols with our suite of APIs —while further expanding our footprint in Germany and Europe.”
Konstantin Richter
Blockdaemon mentioned in a statement that Galaxy Digital Partners was serving as the exclusive financial advisor, and Cooley LLP and Bird & Bird LLP were acting as legal advisors to Blockdaemon on its acquisition of Anyblock Analytics.
