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Fireblocks Valuation, Funding & Investors
Fireblocks is valued at $8B as of January 2022.
Last Fireblocks valuation
$8B
Series E · Jan 2022
Last Fireblocks funding round
$550M
Series E · Jan 2022
Cumulative funding Fireblocks raised
$1B
across 5 funding rounds
Key investors in Fireblocks
Tenaya Capital
Cyberstarts
Coatue
Spark Capital
Paradigm
Galaxy Digital
About Fireblocks
Fireblocks is a New York-based digital asset infrastructure company whose platform lets banks, exchanges, fintechs, payment companies and asset managers store, transfer, issue and settle cryptocurrencies, stablecoins and tokenized assets. Its wallet infrastructure combines multi-party computation (MPC) with chip isolation security to remove single points of failure in private-key management, and the Fireblocks Network connects members to the crypto capital markets ecosystem for instant settlement. Customers have included BNY Mellon, Revolut, Galaxy Digital, Crypto.com, eToro and B2C2; by January 2022 the company had grown from 150 to more than 800 customers, supported more than 20 blockchains, had seen $2 trillion in digital assets transferred and held $45 billion of customer assets under custody on its platform. Fireblocks sells its software to institutions rather than holding assets on its own balance sheet. The company was founded in 2018 by Michael Shaulov, Pavel Berengoltz and Idan Ofrat and emerged from stealth in June 2019 with a $16 million Series A. It later raised a $30 million Series B led by Paradigm, a $133 million Series C, a $310 million Series D and a $550 million Series E in January 2022, co-led by D1 Capital Partners and Spark Capital, which valued it at $8 billion.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$8B (Jan 2022)
Fireblocks Valuation
Fireblocks is currently valued at $8B, based on its Series E in January 2022. Read the announcement ↗
The $550M round was led by D1 Capital Partners and Spark Capital, with participation from ICONIQ Capital, ParaFi Capital, Index Ventures, Canapi Ventures, Altimeter Capital and 2 other investors.
Fireblocks' valuation has grown 8.9x from $900M at its Series C in March 2021 to $8B in January 2022, across 3 priced rounds.
Fireblocks valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jan 2022 | Series E | $8B |
| Jul 2021 | Series D | $2.2B |
| Mar 2021 | Series C | $900M |
Fireblocks Funding History
Fireblocks has raised a total of $1B across 5 funding rounds.
Fireblocks' first fundraising round was a $16M Series A in June 2019. The most recent completed round was a $550M Series E in January 2022.
Fireblocks funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2022 | Series E | D1 Capital Partners (lead); Spark Capital (lead); ICONIQ Capital; ParaFi Capital; Index Ventures; Canapi Ventures; Altimeter Capital; General Atlantic; CapitalG | $550M | $8B | Fireblocks is a digital asset custody, transfer, and settlement platform that provides infrastructure for financial institutions to manage cryptocurrencies securely, supporting over 20 blockchains and 1,000 cryptocurrencies for use cases including trading, gaming, NFTs, digital securities, and payments. The company, founded in 2018 and headquartered in New York, serves clients like BNY Mellon, BlockFi, Revolut, Worldpay, and Galaxy, enabling institutional participation in the digital asset economy. In its $550 million Series E funding round, co-led by D1 Capital Partners and Spark Capital with participation from General Atlantic, Index Ventures, Mammoth, CapitalG (Alphabet’s growth fund), Altimeter, Iconiq Strategic Partners, Canapi Ventures, and ParaFi Capital, Fireblocks achieved an $8 billion valuation, positioning it as the highest-valued digital asset infrastructure provider globally. This brought total funding raised to $1 billion. The round followed a $310 million Series D six months prior, nearly quadrupling the valuation. Around the January 2022 announcement, Fireblocks reported strong 2021 traction: growing from 150 to over 800 customers, transferring more than $2 trillion in digital assets, and holding $45 billion in assets under custody. The funding aims to accelerate global expansion, innovation in DeFi, NFTs, and payments, enhance self-service features, and provide 24/7 support to onboard more businesses into crypto. Fireblocks emphasizes secure, future-proof technology to handle the booming digital asset market, including decentralized finance via integrations like Aave Arc. CEO Michael Shaulov highlighted its role in enabling institutions to directly custody assets rather than relying on third parties, boosting competitive edges amid accelerating crypto adoption in 2022. |
| Jul 2021 | Series D | Coatue (lead); DRW Venture Capital (lead); SCB 10X (lead); Sequoia Capital (lead); Spark Capital (lead); BNY Mellon; SVB Capital; Stripes | $310M | $2.2B | Fireblocks, a leading digital asset custody and infrastructure platform using MPC technology, raised $310 million in a Series D funding round on July 27, 2021, co-led by Sequoia Capital, Stripes, Spark Capital, Coatue, DRW VC, and SCB 10X, with participation from prior investors including BNY Mellon and SVB Capital, bringing total funding to $489 million. The round valued the company at $2.2 billion post-money, tripling its valuation from the $700 million mark in the prior $133 million Series C in early 2021. Fireblocks provides secure custody, transfer, and issuance solutions for cryptocurrencies, NFTs, and tokenized assets, enabling banks, exchanges, and institutions to operate digital asset businesses without third-party reliance. At the time of the round, Fireblocks served over 500 institutional clients including Revolut, BlockFi, Crypto.com, eToro, Galaxy Digital, and Genesis Trading, having facilitated over $1 trillion in digital asset transfers. The platform supported assets like Bitcoin (40%), Ether (30%), stablecoins, and NFTs under custody. CEO Michael Shaulov highlighted explosive growth, with customer base expanding from 150 to 500 since January 2021, ARR up 350% year-to-date versus 2020 (which grew 450% from 2019), and projections for 500% full-year growth, prompting three upward revenue revisions. The funding aims to scale operations, enhance R&D, and meet surging demand from traditional finance entering digital assets, including partnerships like providing blockchain tech for BNY Mellon's custody offering. Fireblocks positions itself as core infrastructure for the digital asset economy, white-labeling custody solutions globally amid rising adoption in payments, gaming, and securities tokenization. |
| Mar 2021 | Series C | Coatue (lead); Ribbit Capital (lead); Stripes (lead); Galaxy Digital; Tenaya Capital; BNY Mellon; SVB Capital; Swisscom Ventures; Cyberstarts; Paradigm | $133M | $900M | Fireblocks is a New York-based infrastructure provider for digital assets, offering an all-in-one platform that enables financial institutions to store, transfer, issue, and custody digital assets using MPC-based technology. It supports institutional investors with white-label custody solutions and has facilitated over $1 trillion in digital asset transfers. The company operates on a subscription model and targets banks, fintechs, exchanges, and other players entering the crypto space. On March 18, 2021, Fireblocks raised $133 million in a Series C funding round led by Coatue, Ribbit Capital, and Stripes, with participation from BNY Mellon, SVB, Paradigm, Galaxy Digital, Swisscom Ventures, Tenaya Capital, Cyberstarts Ventures, and others. This brought the company's total funding to $179 million since its 2018 inception, making it the most well-funded crypto infrastructure provider at the time. The round valued Fireblocks at $700 million post-money. At the time of the Series C, Fireblocks had around 150 customers, which grew significantly later in 2021. Fireblocks' clients included major crypto exchanges like Binance, BitMEX, Huobi, and Kraken, as well as traditional institutions. The funding was aimed at bringing more banks and fintechs into crypto by enhancing its MPC wallets, settlement network, DeFi access, and tokenization services. Five months later in July 2021, Fireblocks raised a $310 million Series D at $2.2 billion valuation, led by Sequoia, Stripes, and Spark, with Coatue and others, bringing total funding to $489 million. |
| Nov 2020 | Series B | Paradigm (lead); Galaxy Digital; Tenaya Capital; Swisscom; Digital Currency Group; Cedar Hill Holdings; Cyberstarts | $30M | - | Fireblocks provides secure digital asset custody, transfer, and settlement infrastructure using MPC-based wallet technology and the Fireblocks Network for enterprise and institutional customers. The Series B funding round on November 18, 2020, raised $30 million led by Paradigm, with participation from Cyberstarts, Tenaya Capital, Swisscom, Galaxy Digital, Digital Currency Group, and Cedar Hill Capital, bringing total funding to $46 million. The funds aimed to expand market reach, enhance security features, and support growth amid surging demand for digital asset operations. By the round date, Fireblocks had facilitated over $150 billion in digital asset transfers since its June 2019 launch, with the platform handling $23 billion in transfers in the prior month alone. The company reported a 533% increase in customer growth in Q3 2020, reaching over 160 active institutional participants including liquidity providers like B2C2, Galaxy, and Amber, and customers such as Revolut, Celsius, BlockFi, PrimeTrust, Genesis, and Nexo. Fireblocks operated across Asia, Europe, and North America with approximately 70 employees and was cash flow neutral prior to the round. Competitors included BitGo, as Fireblocks sought to scale independently in the emerging institutional crypto infrastructure market. The announcement coincided with adding Fred Ehrsam, Paradigm co-founder and Coinbase co-founder, to the board. |
| Jun 2019 | Series A | Cyberstarts (lead); Eight Roads Ventures (lead); Mstate (lead); Tenaya Capital (lead); Swisscom Ventures | $16M | - | Fireblocks emerged from stealth on June 11, 2019, announcing $16 million in Series A funding from Cyberstarts, Tenaya Capital, Eight Roads (the proprietary investment arm of Fidelity International), Swisscom Ventures and MState. The company provides an enterprise platform for securing digital assets in transit, aimed at protecting cryptocurrency movements between exchanges, over-the-counter desks, brokerages, hot wallets, custodians and cold storage. Its technology combines patent-pending chip isolation security with multi-party computation (MPC), and is designed to protect against the theft, spoofing and compromised credentials behind many exchange hacks. Fireblocks was founded in 2018 by Michael Shaulov and Pavel Berengoltz, whose earlier mobile security company Lacoon Mobile Security was acquired by Check Point, together with Idan Ofrat, formerly vice president of research and development at C4 Security, which was acquired by Elbit Systems. The company launched with large institutional digital asset trading operators as its first customers. It went on to raise a $30 million Series B led by Paradigm in November 2020 and larger rounds in 2021 and 2022 that valued it at $8 billion. |
Who has invested in Fireblocks?
27 investors have backed Fireblocks across its funding rounds, including Tenaya Capital, Cyberstarts, Coatue, Spark Capital, Paradigm and Galaxy Digital.
Lead investors include D1 Capital Partners, Spark Capital, Coatue, DRW Venture Capital, SCB 10X and 8 other investors.
Fireblocks Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Jun 2019 | ||
| 3 | Lead | Jun 2019 | ||
| 2 | Participant | Nov 2020 | ||
| 2 | Participant | Mar 2021 | ||
| 2 | Participant | Mar 2021 | ||
| 2 | Lead | Jul 2021 | ||
| 2 | Participant | Jun 2019 | ||
| 2 | Lead | Mar 2021 | ||
| 2 | Lead | Nov 2020 | ||
| 2 | Lead | Mar 2021 | ||
| 1 | Participant | Nov 2020 | ||
| 1 | Lead | Jul 2021 | ||
| 1 | Participant | Jan 2022 | ||
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Start Free TrialAcquisitions by Fireblocks
Fireblocks has acquired 4 companies to date.
Last acquisition by Fireblocks was on January 7th 2026. Fireblocks acquired Tres for $130M.
Latest Acquisitions by Fireblocks
| Description | Tres is a Web3 finance platform automating reconciliation, balance tracking, auditing, and reporting for crypto assets from fiat on-ramps to off-ramps. The tool integrates with 50+ blockchains and wallets, reducing manual processes for treasury teams at DeFi protocols and funds. Tres provides real-time dashboards and compliance exports, launched in 2022 to streamline digital asset accounting. | Dynamic Labs is a multi-chain authentication platform using embedded wallets for web3 applications. Based in New York, the xyz network supports Ethereum, Solana, Bitcoin, and Polygon for seamless user onboarding without seed phrases, enabling gasless transactions and social logins for dApps in DeFi and gaming. | Blockfold is a service provider offering smart contract development, security audits, and consulting for DeFi protocols and NFT collections. The firm conducts penetration testing and formal verification to mitigate vulnerabilities in Solidity and Rust codebases. Projects receive tailored advisory on tokenomics, governance, and regulatory compliance within Ethereum and layer-2 ecosystems. | First Group is a Luxembourg-headquartered digital assets firm recognized as Europe's largest in the sector, with operations spanning incubation of fintech products, direct blockchain investments, and alliances with major banks. Through portfolio entities like First Digital Assets and First Blockchain, it develops custody solutions, tokenization platforms, and trading infrastructure. Established in 2018, the group manages assets for institutional partners across 15 European countries. |
| HQ Country | ||||
| HQ City | Tel Aviv | San Francisco, CA | Melbourne | Givatayim |
| Deal Date | 7 Jan 2026 | 23 Oct 2025 | 29 Sep 2023 | 16 Feb 2022 |
| Valuation | $130M | $90M | $10M | $100M |
| EV/Revenue | ||||
| EV/EBITDA | ||||
This data is available for Pro users. Sign up to see all Fireblocks acquisitions and their M&A valuation multiples. Start Free Trial | ||||
Investments by Fireblocks
Fireblocks has invested in 1 company to date.
Latest investment by Fireblocks was on April 1st 2024. Fireblocks invested in Station70 in their $5M Seed round.
Latest Investments by Fireblocks
| Description | Station70 is a disaster recovery provider offering cloud-based backup and replication services for enterprises in North America. The platform supports VMware, Hyper-V, and Kubernetes environments with geo-redundant data centers in the United States and Canada. Certified under ISO 27001 standards, Station70 delivers recovery time objectives under four hours for critical workloads, serving sectors like finance and healthcare through automated testing and orchestration tools. |
| HQ Country | |
| HQ City | Nashville, TN |
| Deal Date | 1 Apr 2024 |
| Round | Seed |
| Raised | $5M |
| Investors | SCB 10X; CoinShares; Castle Island Ventures; Notation Capital; Matt Walsh; Semantic Ventures |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Fireblocks investments and their VC round multiples. Start Free Trial | |
Fireblocks Competitors
Fireblocks competitors include listed companies like Mitek Systems and Qihoo 360, and private ones like Alchemy, Socure, Celestia and Blockdaemon.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $10B | - | ||
| Private | $315M | - | $5.2B | - | ||
| Private | - | - | $3.5B | - | ||
| Private | $75M | - | $3.3B | 43.3x | ||
| Publicly listed | $180M | $37M | $815M | 3.9x | ||
| Publicly listed | $1.3B | $71M | $8.2B | 4.0x |
Fireblocks Public Comps
Fireblocks is still privately-owned, but its public comps include Qihoo 360, Qualys, SentinelOne, CommVault Systems, Netskope, Trend Micro, Varonis Systems, Tenable, BlackBerry and Clear Secure.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.3B | $71M | 4.1x | 4.0x | 76.3x | (298.9x) | |||
| $669M | $236M | 11.0x | 10.2x | 31.3x | 22.3x | |||
| $1B | ($267M) | 8.1x | 7.0x | (30.3x) | 47.5x | |||
| $1.2B | $84M | 5.7x | 5.4x | 80.3x | 24.9x | |||
| $709M | ($622M) | 13.5x | 11.3x | (15.4x) | (187.2x) | |||
| $1.8B | $481M | 2.6x | 2.4x | 9.5x | 10.0x | |||
| $624M | ($147M) | 8.7x | 7.5x | (36.8x) | 199.0x | |||
| $999M | $31M | 5.7x | 5.3x | 180.0x | 20.0x | |||
This data is available for Pro users. Sign up to see all Fireblocks competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Fireblocks
| When was Fireblocks founded? | Fireblocks was founded in 2018. |
| Where is Fireblocks headquartered? | Fireblocks is headquartered in New York City, NY, United States. |
| Is Fireblocks publicly listed? | No, Fireblocks is a private, VC-backed company. |
| What is Fireblocks' valuation? | Fireblocks was last valued at $8B in its Series E in January 2022. |
| How much funding has Fireblocks raised? | Fireblocks has raised $1B across 5 funding rounds. |
| What was Fireblocks' last funding round? | Fireblocks' last funding round was a $550M Series E in January 2022, led by D1 Capital Partners and Spark Capital. |
| Who are Fireblocks' investors? | Fireblocks' investors include Tenaya Capital, Cyberstarts, Galaxy Digital, BNY Mellon, SVB Capital, Spark Capital, Swisscom Ventures, Coatue, Paradigm, Stripes and 17 others. |
| Which companies are comparable to Fireblocks? | Companies comparable to Fireblocks include Alchemy, Socure, Celestia, Blockdaemon, Mitek Systems and Qihoo 360. |
| How many companies has Fireblocks acquired? | Fireblocks has acquired 4 companies, including Tres, Dynamic Labs, Blockfold and First Group. |
| What was the largest acquisition by Fireblocks? | The $130M acquisition of Tres in January 2026 is the largest acquisition Fireblocks has made to date. |
| How many companies has Fireblocks invested in? | Fireblocks has invested in 1 company, including Station70. |
| What was Fireblocks' last investment? | In April 2024, Fireblocks invested in Station70's $5M seed round alongside SCB 10X, CoinShares, Castle Island Ventures and 3 other investors. |
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