PolySign Valuation, Funding & Investors
PolySign is valued at $500M as of January 2021.
Last PolySign valuation
$500M
Series A · Jan 2021
Last PolySign funding round
$53M
Series C · Apr 2022
Cumulative funding PolySign raised
$132M
across 5 funding rounds
Key investors in PolySign
Race Capital
Cowen Group
GSR Ventures
Soros Fund Management
Blockchain.com Ventures
Brevan Howard Asset Management
About PolySign
PolySign is a San Francisco-headquartered developer of blockchain infrastructure for institutional digital asset management. Their PolySign Platform delivers MPC-based wallets, custody solutions, and trading execution compliant with SOC 2 and ISO 27001 standards. Integrated with exchanges like Coinbase and networks including Ethereum and Bitcoin, it supports over $10 billion in assets under management for banks and hedge funds. PolySign's technology enables secure multi-party computation for private keys, facilitating cross-chain transfers and DeFi access without single points of failure.
Founded
2018
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$500M (Jan 2021)
PolySign Valuation
PolySign is currently valued at $500M, based on its Series A in January 2021.
PolySign's valuation has grown 8.5x from $59M at its Series A in December 2018 to $500M in January 2021, across 2 priced rounds.
PolySign valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jan 2021 | Series A | $500M |
| Dec 2018 | Series A | $59M |
PolySign Funding History
PolySign has raised a total of $132M across 5 funding rounds.
PolySign's first fundraising round was a $4M seed round in February 2018. The most recent completed round was a $53M Series C in April 2022.
PolySign funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2022 | Series C | Cowen Group (lead); Brevan Howard Asset Management; Soros Fund Management; GSR Ventures | $53M | - | PolySign is a financial technology company providing blockchain-enabled digital asset infrastructure, including custody and settlement solutions, for institutional investors. The company focuses on secure, scalable technology to bridge traditional finance and decentralized finance, with products aimed at enabling institutional access to cryptocurrencies. On April 13, 2022, PolySign closed a $53 million Series C funding round led by Cowen Digital (TD Cowen), with participation from Brevan Howard Asset Management, GSR Ventures, Soros Fund Management, and others. Cowen invested $25 million as part of the first close, supporting a strategic partnership to offer institutional clients secure digital asset services. Additionally, PolySign secured a $25 million credit facility from Boathouse Capital and acquired MG Stover to enhance its custody and administration capabilities. The funding is intended to accelerate development of institutional blockchain applications, expand market-facing solutions, and address security concerns amid market volatility. Investors highlighted PolySign's battle-tested infrastructure, regulatory embrace, and leadership team, including CEO Jack McDonald and team pioneers in cryptocurrency and financial services. By December 2022, Cowen's investment position reached approximately $57.2 million. PolySign has raised over $158 million across multiple rounds, including prior Series B raises, positioning it as a key player in digital asset custody amid growing institutional demand. The company competes in a space requiring trust, compliance, and risk management, with backers like Blockchain.com and Race Capital affirming its execution. |
| May 2021 | Series B | Cowen Group (lead); Sandia Holdings; PilotRock Investments; Blockchain.com Ventures; Race Capital | $59M | - | PolySign is a blockchain infrastructure provider focused on institutional-grade custody and settlement solutions for digital assets. The company developed proprietary technology for secure digital asset custody and settlement infrastructure targeting institutional investors and asset managers. In May 2021, PolySign closed a Series B financing round with $53 million raised at initial closing, led by Cowen Digital with a $25 million strategic investment. Additional investors included Blockchain.com, Race Capital, Sandia Holdings, and PilotRock Investments. The capital was used to accelerate development of institutional blockchain applications and, in a later acquisition, to purchase fund administrator MG Stover in April 2022, which had $40 billion in digital assets under administration. The partnership with Cowen aimed to provide institutional clients with custody solutions, compliance infrastructure, and access to digital asset markets through a strategic partnership announced alongside the investment. |
| Jan 2021 | Series A | - | $8M | $500M | PolySign is a blockchain infrastructure provider offering custody solutions, fund administration, and a planned settlement layer for digital assets. The company operates through subsidiaries including Standard Custody and Trust Company (custody) and MG Stover (fund administration), with a core product PolyNet in development to enable instant and automatic settlement across cryptoassets. In November 2021, PolySign raised $5.37 million in a Series B tranche, part of a broader $53 million Series B round that had commenced in May 2021 with lead investor Cowen and participation from Blockchain.com, Race Capital, Sandia Holdings, and PilotRock Investments. The Series C proceeds were allocated toward expanding engineering, accounting, and client service teams while accelerating technology development, with PolyNet's launch planned for Q1 2023. |
| Dec 2018 | Series A | Race Capital | $8M | $59M | PolySign is a digital asset custody and fund administration platform founded by Arthur Britto and David Schwartz, technologists who previously co-created Ripple's XRP Ledger. The company initially focused on digital asset custody through its Standard Custody and Trust division before expanding its service offerings. In its December 2018 Series A funding round led by Race Capital, PolySign achieved a post-money valuation of $59.36 million. The company later acquired digital asset fund administrator MG Stover in April 2022, which held $40 billion in digital assets under administration at the time of acquisition, positioning PolySign as a comprehensive provider of both custody and fund administration services in the digital asset space. |
| Feb 2018 | Seed | - | $4M | - | - |
Who has invested in PolySign?
8 investors have backed PolySign across its funding rounds, including Race Capital, Cowen Group, GSR Ventures, Soros Fund Management, Blockchain.com Ventures and Brevan Howard Asset Management.
Lead investors include Cowen Group.
PolySign Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| United States | 2 | Lead | May 2021 | |
| San Francisco, CA | 2 | Participant | Dec 2018 | |
 London | 1 | Participant | Apr 2022 | |
| New York City, NY | 1 | Participant | Apr 2022 | |
| San Francisco, CA | 1 | Participant | Apr 2022 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Sandia Holdings | -- | 1 | Participant | May 2021 |
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Start Free TrialAcquisitions by PolySign
PolySign has acquired 1 company to date.
Last acquisition by PolySign was on April 13th 2022. PolySign acquired MG Stover & Co. for undisclosed valuation.
Latest Acquisitions by PolySign
| Description | MG Stover & Co. is the largest digital fund administrator in the United States serving hedge funds, private equity, and venture capital vehicles. The firm provides fund accounting, treasury management, KYC/AML compliance, and offshore reporting from its U.S. headquarters. MG Stover operates proprietary software for back-office reconciliation supporting hundreds of digital asset funds for institutional investors. |
| HQ Country | |
| HQ City | Denver, CO |
| Deal Date | 13 Apr 2022 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all PolySign acquisitions and their M&A valuation multiples. Start Free Trial | |
PolySign Competitors
PolySign competitors include listed companies like Rhino Bitcoin and Indokripto Koin Semesta, and private ones like Animoca Brands KK, Bitwise, C2x and Chain Reaction.
| Company | HQ | Status | Revenue | EBITDA | Valuation |
|---|---|---|---|---|---|
 Fukuoka | Private | - | - | $500M | |
| San Francisco, CA | Private | - | - | $500M | |
| Los Angeles, CA | Private | - | - | $500M | |
 Yokneam Illit | Private | - | - | $500M | |
| United States | Publicly listed | $478K | ($417K) | $594M | |
 Indonesia | Publicly listed | $16M | $7M | $609M |
PolySign Public Comps
PolySign is still privately-owned, but its public comps include Stewards, Rhino Bitcoin, Indokripto Koin Semesta, Coincheck Group, Bakkt, Chaince Digital, ProCap Financial, Capital B, Wewards and BitGo Holdings.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | - | - | - | - | - | |||
| $478K | ($417K) | 1242.8x | - | (1423.4x) | - | |||
| $16M | $7M | 36.9x | - | 81.1x | - | |||
| $3.1B | $354K | 0.2x | 0.2x | 1312.3x | (189.0x) | |||
| $2.3B | ($98M) | 0.1x | 0.2x | (2.9x) | (27.3x) | |||
| $2M | ($3M) | 148.5x | - | (97.3x) | - | |||
| - | - | - | - | - | - | |||
| $13M | ($5M) | 6.6x | 6.6x | (15.9x) | (15.7x) | |||
This data is available for Pro users. Sign up to see all PolySign competitors and their valuation data. Start Free Trial | ||||||||
Common questions about PolySign
| When was PolySign founded? | PolySign was founded in 2018. |
| Where is PolySign headquartered? | PolySign is headquartered in San Francisco, CA, United States. |
| Is PolySign publicly listed? | No, PolySign is a private, VC-backed company. |
| What is PolySign's valuation? | PolySign was last valued at $500M in its Series A in January 2021. |
| How much funding has PolySign raised? | PolySign has raised $132M across 5 funding rounds. |
| What was PolySign's last funding round? | PolySign's last funding round was a $53M Series C in April 2022, led by Cowen Group. |
| Who are PolySign's investors? | PolySign's investors include Cowen Group, Race Capital, Brevan Howard Asset Management, Soros Fund Management, GSR Ventures, Sandia Holdings, PilotRock Investments and Blockchain.com Ventures. |
| Which companies are comparable to PolySign? | Companies comparable to PolySign include Animoca Brands KK, Bitwise, C2x, Chain Reaction, Rhino Bitcoin and Indokripto Koin Semesta. |
| How many companies has PolySign acquired? | PolySign has acquired 1 company, including MG Stover & Co.. |
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