Blockaid raised $50 million in a Series B funding round.
Receiving by the mentioned company the funds will be used to scale to meet the demand for the firm’s blockchain security platform.
In a message that was posted on Blockaid’s blog last Tuesday, February 18, it was noted that the company will leverage the new money, among other things, to expand its product and engineering teams, strengthen go-to-market operations, and expand research capabilities to stay ahead of evolving threats.
In the mentioned message, it was also underlined that the firm is set apart by its unmatched visibility from direct integrations with the most used web3 wallets, plus internet-wide monitoring that stops threats before they reach users. It was overlined that this not only gives the company the most comprehensive coverage of any security provider. It was noted that the more pre-transaction, onchain, offchain, and threat intelligence data the firm’s system sees, the more its models improve.
In October 2023, Blockaid emerged from the stealth with $33 million in funding, saying in a blog post that its goal is to secure web3. Since then, the company has secured assets worth over $100 billion, scanned over 2.4 billion transactions, protected over 787 million connections to decentralized apps, prevented more than $5.3 billion in potential losses, and detected and blocked over 71 million attacks.
The firm’s platform provides direct wallet and dApp integrations for end-user protection, real-time monitoring, detection and response for smart contracts, infrastructure and externally owned accounts, specialized fraud detection, and institutional safeguards. The relevant information is contained in a message posted on the company’s blog.
As we have reported earlier, Stacks Raises $10 Million.
