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Blockdaemon Revenue, Valuation, Funding & Investors
Blockdaemon is valued at $3.3B as of August 2022, a 43.3x multiple on its last reported $75M revenue.
Last Blockdaemon valuation
$3.3B
Undisclosed stage · Aug 2022
Last Blockdaemon funding round
$33M
Undisclosed stage · Aug 2022
Blockdaemon revenue
$75M
Undisclosed stage · Aug 2022
Key investors in Blockdaemon
boldstart ventures
Lerer Hippeau
SoftBank Group
Comcast Ventures
Heavybit
Plug and Play
About Blockdaemon
Blockdaemon provides enterprise-grade blockchain infrastructure, managing nodes and payment rails across networks. Los Angeles-headquartered since 2017, it enables seamless chain switching, portability, and DevOps support for the developer ecosystem.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$75M (Aug 2022)
Valuation
$3.3B (Aug 2022)
Blockdaemon Valuation
Blockdaemon is currently valued at $3.3B, based on its undisclosed-stage round in August 2022.
Blockdaemon's valuation has grown 2.6x from $1.3B at its Series B in September 2021 to $3.3B in August 2022, across 3 priced rounds.
Blockdaemon valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Aug 2022 | Undisclosed stage | $3.3B | 43.3x |
| Jan 2022 | Series C | $3.3B | - |
| Sep 2021 | Series B | $1.3B | 16.7x |
Blockdaemon Revenue
Blockdaemon's latest recorded revenue is $75M, as of its undisclosed-stage round in August 2022. At a $3.3B valuation, that implies a 43.3x revenue multiple.
Revenue moved from $75M in September 2021 to $75M in August 2022, while the revenue multiple moved from 16.7x to 43.3x.
Blockdaemon revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Aug 2022 | $75M | $3.3B | 43.3x | Undisclosed stage |
| Sep 2021 | $75M | $1.3B | 16.7x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Blockdaemon Funding History
Blockdaemon has raised a total of $431M across 7 funding rounds.
Blockdaemon's first fundraising round was a $400K seed round in April 2018. The most recent completed round was a $33M undisclosed-stage round in August 2022.
Blockdaemon funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2022 | Undisclosed stage | - | $33M | $3.3B | Blockdaemon is a blockchain infrastructure company that specializes in payment rails and the deployment of nodes across multiple protocols. The company was founded in 2017 by Arunram Kalaiselvan and Konstantin Richter and is headquartered in New York. In its Series C funding round closed on January 19, 2022, Blockdaemon raised $207 million with a post-money valuation of $3.25 billion. The round was led by major institutional investors including Sapphire Ventures, Tiger Global Management, BOLDstart Ventures, Galaxy, Lerer Hippeau, Matrix Capital Management, SoftBank, and Stepstone Group. The capital was intended to support expansion of the company's presence in multiple regions and to make acquisitions to build out its technology stack. By January 2022, Blockdaemon had established itself as a significant player in blockchain infrastructure, supporting over 40 protocols and averaging more than $10 billion in staked assets across its platform. The company's growth trajectory was substantial, with the Series C valuation representing significant appreciation from earlier funding rounds, reflecting strong investor confidence in the cryptocurrency and blockchain infrastructure sector. |
| Jan 2022 | Series C | Sapphire Ventures (lead); Tiger Global (lead); Galaxy Digital; Lerer Hippeau; StepStone Group; SoftBank Group; Matrix Capital Management; boldstart ventures; Blake Coler-Dark | $207M | $3.3B | Blockdaemon is a blockchain infrastructure provider offering institutional-grade node hosting, staking, and oracle services across over 50 blockchains, positioning itself as the foundational layer for the blockchain industry. In January 2022, the company raised $207 million in a Series C funding round led by Sapphire Ventures and Tiger Global, with participation from Blake Coler-Dark, Boldstart Ventures, Galaxy Digital, Lerer Hippeau, Matrix Capital Management, SoftBank Vision Fund, and StepStone Group, achieving a post-money valuation of $3.25 billion. This followed a $155 million Series B in September 2021 led by SoftBank Vision Fund 2, which valued the company at $1.25-$1.26 billion and marked its unicorn status. The Series C proceeds were earmarked to accelerate strategic acquisitions, expand the product suite including DeFi and CeFi solutions, launch a DeFi fund, and form partnerships such as with StakeWise for liquid staking on Ethereum. Blockdaemon highlighted massive growth across metrics in the prior 12 months, though specific revenue or ARR figures were not disclosed for the period; earlier Series B announcements noted a 20x revenue increase over the past year but without quantified amounts. The company supported over $10 billion in staked assets across 40+ protocols and ran over 12,000 ETH 2.0 validators, representing about 384,000 ETH staked worth over $1.1 billion at the time. Investors valued Blockdaemon's role in enabling institutional adoption amid crypto market dynamics, with the round closing despite headwinds. Subsequent funding included a $33 million round in 2022, bringing total capital raised to around $431 million by mid-2022. The firm continued emphasizing liquidity solutions and expansion into areas like ETH 2.0 staking. |
| Sep 2021 | Series B | SoftBank Group (lead) | $155M | $1.3B | Blockdaemon is a blockchain infrastructure company founded in 2017 that provides institutional-grade node management and staking services for decentralized networks. The platform enables businesses and financial institutions to deploy and operate blockchain infrastructure, manage nodes that store and preserve blockchain data, and access staking services across over 40 protocols. In September 2021, Blockdaemon closed a Series B funding round of $155 million led by SoftBank Vision Fund 2, with participation from Matrix Capital Management, Sapphire Ventures, Morgan Creek Digital, and previous investors including Goldman Sachs, Kraken Ventures, CoinFund, and others. The round valued the company at $1.255 billion, achieving unicorn status for the first time. The capital was designated to support expansion into new geographic markets including Singapore, Japan, the United Kingdom, and Germany, as well as to expand the engineering team. At the time of the round, Blockdaemon reported substantial traction including over $10 billion in staked assets across its supported protocols, over 10,000 Ethereum 2.0 validators launched across its network in the preceding six months, and a 20-fold increase in revenue over the prior year alongside a 70-fold increase in valuation. |
| Jun 2021 | Series A | Greenspring Associates (lead) | $28M | - | Blockdaemon is a leading independent blockchain infrastructure platform that provides institutional-grade node infrastructure, connecting institutions and developers to major blockchain networks for staking, APIs, and other services. Founded in 2017 by Arunram Kalaiselvan and Konstantin Richter, the company specializes in payment rails and node deployment across public and private networks, including integrations like Helium for IoT. It serves top crypto exchanges, custodians, and funds with cross-compatible solutions. In June 2021, Blockdaemon raised $28 million in its Series A round led by Greenspring Associates, with participation from investors including Goldman Sachs, BlockFi, Boldstart Ventures, Borderless Capital, Coinfund, Coinshares, Heavybit, Illuminate Financial, Kenetic, Lerer Hippeau, Uphold, and Voyager Digital. The funding aimed to support early growth and development of its infrastructure offerings. This Series A followed earlier seed funding, such as a May 2020 round raising about $4.93 million from investors like Blockchain.com, Boldstart, Coinshares, Comcast Ventures, and others. Post-Series A, Blockdaemon quickly progressed: in September 2021, it secured a $155 million Series B led by SoftBank Vision Fund at a $1.26-$1.3 billion valuation, involving returning investors like Goldman Sachs and Greenspring Associates, to expand infrastructure, hire globally, and enhance APIs for financial reporting. By January 2022, a $207 million Series C led by Sapphire Ventures and Tiger Global valued the company at $3.25 billion, focusing on DeFi/CeFi solutions and partnerships. Traction included doubling blockchain nodes to 18,000 in the 90 days before the Series B announcement. Total funding reached approximately $431 million across multiple rounds by 2022, with ongoing expansion in operations and products. |
| May 2020 | Series A | boldstart ventures (lead); Fenbushi Capital; Lerer Hippeau; CoinShares; Heavybit; Kenetic; Comcast Ventures; Borderless Capital; SPiCE VC; Hashkey Exchange; Blockchain.com Ventures | $6M | - | - |
| Apr 2019 | Seed | Lerer Hippeau (lead); Comcast; boldstart ventures; Republic capital | $2M | - | Blockdaemon raised $2.35 million in a seed round in April 2019 led by Lerer Hippeau, with participation from Boldstart Ventures, Comcast Ventures, Coinfund, and Republic. The funding was intended to further develop the platform and expand the team. Valuation at the round was not publicly disclosed. Blockdaemon is a blockchain infrastructure platform providing a multi-cloud solution supporting leading blockchain protocols. Key investors in this early-stage round reflect interest from prominent venture firms in cryptocurrency and blockchain services. |
| Apr 2018 | Seed | boldstart ventures (lead); Comcast Ventures (lead); Genacast Ventures (lead); Nisa Amoils; Plug and Play; Heavybit; Liquid 2 Ventures; Meltem Demirors; Mstate; Sarah Downey | $400K | - | - |
Who has invested in Blockdaemon?
28 investors have backed Blockdaemon across its funding rounds, including boldstart ventures, Lerer Hippeau, SoftBank Group, Comcast Ventures, Heavybit and Plug and Play.
Lead investors include Sapphire Ventures, Tiger Global, SoftBank Group, Greenspring Associates, boldstart ventures and 3 other investors.
Blockdaemon Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Apr 2018 | ||
| 3 | Lead | Apr 2019 | ||
| 2 | Participant | Apr 2018 | ||
| 2 | Lead | Sep 2021 | ||
| 2 | Lead | Apr 2018 | ||
| 1 | Participant | Jan 2022 | ||
| 1 | Participant | Apr 2018 | ||
| 1 | Participant | May 2020 | ||
| 1 | Participant | Apr 2018 | ||
| 1 | Lead | Jun 2021 | ||
| 1 | Lead | Apr 2018 | ||
| 1 | Participant | May 2020 | ||
| 1 | Participant | Jan 2022 | ||
This data is available for Pro users. Sign up to see all 28 Blockdaemon investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Blockdaemon
Blockdaemon has acquired 5 companies to date.
Last acquisition by Blockdaemon was on March 19th 2025. Blockdaemon acquired expand.network for undisclosed valuation.
Latest Acquisitions by Blockdaemon
| Description | - | Sepior is a cryptography firm providing threshold-based multiparty computation for secure key management in fintech, blockchain, and cloud applications. Its patented protocols support cryptocurrency wallets, distributed ledgers, and SaaS security across hardware and virtual platforms from Copenhagen, Denmark. | Gem is a blockchain platform offering a cryptocurrency wallet for secure digital asset storage and transactions. It supports Ethereum-based tokens and fiat on-ramps through integrations with Visa and bank transfers. Launched in 2017, Gem serves retail users in North America with multi-signature security features. | Anyblock Analytics is a Mainz-headquartered blockchain infrastructure provider enabling enterprises to query public and private networks via SQL and Elasticsearch. Launched in 2018, the company indexes Ethereum, Bitcoin, and Hyperledger Fabric chains, offering SaaS-based tools for data extraction, monitoring, alerts, and API access. Its virtual appliances support consortium deployments in regulated environments like finance and supply chains. Serving clients in Germany and Europe, Anyblock Analytics facilitates smart contract auditing and transaction analytics without node management. | |
| HQ Country | |||||
| HQ City | - | Aarhus | - | Mainz | |
| Deal Date | 19 Mar 2025 | 20 Jul 2022 | 9 Mar 2022 | 17 Nov 2021 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Blockdaemon acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Investments by Blockdaemon
Blockdaemon has invested in 5 companies to date.
Latest investment by Blockdaemon was on December 5th 2024. Blockdaemon invested in Haven1 in their $5M Seed round.
Latest Investments by Blockdaemon
| Description | Haven1 is an EVM-compatible blockchain supporting multiple decentralized applications in a single network. It facilitates seamless interoperability for DeFi, gaming, and NFTs through Cosmos SDK integration. Haven1 mainnet launched in 2024, processing thousands of transactions per second with proof-of-stake consensus. The platform attracts developers via grants and hosts validators across global nodes. | Alluvial Finance is a Cayman Islands-based DeFi protocol developer providing lending and staking solutions on Solana blockchain. The platform offers yield-bearing stablecoins and automated market makers, integrated with wallets like Phantom. Founded in 2022, Alluvial Finance locks $100 million in TVL through risk-isolated pools for assets including USDC and PYUSD. | Hypernative is a Web3 security platform monitoring off-chain data sources with machine learning models to detect exploits in DeFi protocols. It scans Twitter, Discord, and blockchain explorers for signals of governance attacks and economic flash loan threats. Deployed by protocols handling over $10 billion in total value locked, Hypernative integrates via API with wallets like MetaMask. | Hyperlane is a modular interoperability protocol connecting applications across blockchains. Developers use its permissionless messaging to enable cross-chain communication for Ethereum, Solana, and Cosmos ecosystems. | |
| HQ Country | |||||
| HQ City | Zug | Wilmington, DE | Herzliya | Greenwich, CT | |
| Deal Date | 5 Dec 2024 | 11 Jul 2023 | 30 Jan 2023 | 22 Sep 2022 | |
| Round | Seed | Series A | Seed | Seed | |
| Raised | $5M | $12M | $9M | $19M | |
| Investors | Animoca Brands; Republic Crypto; KuCoin Ventures | Fenbushi Capital; BH Digital; Nascent Capital; A.Capital Ventures; Avon Ventures; Variant; Ethereal Ventures; IOSG Ventures; Robot Ventures | Nexo; Charge Ventures; IBI Tech Fund; boldstart ventures; Borderless Capital; CMT Digital | Galaxy Digital; Asymmetric; Triton Capital; Hypersphere Ventures; Figment; NFX; Circle; Variant; CoinFund | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Blockdaemon investments and their VC round multiples. Start Free Trial | |||||
Blockdaemon Competitors
Blockdaemon competitors include listed companies like Justsystems and C3.ai, and private ones like Alchemy, Celestia, CertiK and Fireblocks.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $10B | - | ||
| Private | - | - | $3.5B | - | ||
| Private | - | - | $2B | - | ||
| Private | $100M | - | $8B | - | ||
| Publicly listed | $331M | $156M | $1.8B | 3.2x | ||
| Publicly listed | $250M | ($484M) | $1.7B | 4.5x |
Blockdaemon Public Comps
Blockdaemon is still privately-owned, but its public comps include Hyperliquid Strategies, Galaxy Digital, Justsystems, Sharplink, C3.ai, Progress Software, Securitize, OSL Group, Bullish and Qt Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $9M | - | 308.0x | 162.2x | - | - | |||
| $60B | ($177M) | 0.1x | 0.2x | (43.3x) | (182.6x) | |||
| $331M | $156M | 3.1x | 3.2x | 6.7x | - | |||
| $28M | ($734M) | 61.9x | 39.9x | (2.4x) | 141.1x | |||
| $250M | ($484M) | 4.3x | 4.5x | (2.2x) | (6.2x) | |||
| $978M | $302M | 3.0x | 2.9x | 9.6x | 7.3x | |||
| $62M | ($34M) | 25.5x | 22.2x | (46.0x) | (37910.8x) | |||
| $62M | ($48M) | 16.6x | 11.3x | (21.7x) | (23.2x) | |||
This data is available for Pro users. Sign up to see all Blockdaemon competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Blockdaemon
| When was Blockdaemon founded? | Blockdaemon was founded in 2017. |
| Where is Blockdaemon headquartered? | Blockdaemon is headquartered in Los Angeles, CA, United States. |
| Is Blockdaemon publicly listed? | No, Blockdaemon is a private, VC-backed company. |
| What is Blockdaemon's valuation? | Blockdaemon was last valued at $3.3B in its undisclosed-stage round in August 2022. |
| How much funding has Blockdaemon raised? | Blockdaemon has raised $431M across 7 funding rounds. |
| What was Blockdaemon's last funding round? | Blockdaemon's last funding round was a $33M undisclosed-stage round in August 2022. |
| Who are Blockdaemon's investors? | Blockdaemon's investors include boldstart ventures, Lerer Hippeau, Heavybit, SoftBank Group, Comcast Ventures, Galaxy Digital, Nisa Amoils, Fenbushi Capital, Plug and Play, Greenspring Associates and 18 others. |
| What is Blockdaemon's revenue? | Blockdaemon's latest recorded revenue is $75M (August 2022). |
| What is Blockdaemon's revenue multiple? | Blockdaemon's latest valuation implies a 43.3x revenue multiple ($3.3B valuation on $75M of revenue). |
| Which companies are comparable to Blockdaemon? | Companies comparable to Blockdaemon include Alchemy, Celestia, CertiK, Fireblocks, Justsystems and C3.ai. |
| How many companies has Blockdaemon acquired? | Blockdaemon has acquired 5 companies, including expand.network, Sepior, Gem, Anyblock Analytics and Lunie. |
| How many companies has Blockdaemon invested in? | Blockdaemon has invested in 5 companies, including Haven1, Alluvial Finance, Hypernative, Hyperlane and Tres. |
| What was Blockdaemon's last investment? | In December 2024, Blockdaemon invested in Haven1's $5M seed round alongside Animoca Brands, Republic Crypto and KuCoin Ventures. |
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