Blockchain Security Firm Blockaid Secures $50 Million in Series B Funding
Blockaid, a blockchain security firm, secured $50 million in Series B funding led by Ribbit Capital, with participation from GV, Variant, and Cyberstarts. The capital will enhance research, engineering, and product development to address rising demand for blockchain security as financial institutions and fintech expand their on-chain operations.
- Founded in 2023, Blockaid previously raised $27 million in Series A funding.
- The firm offers real-time threat detection for blockchain transactions.
- Integrates with wallets and decentralized applications (dapps) to protect users from threats.
- In the past year, Blockaid scanned over 2.4 billion transactions and thwarted 71 million attacks.
- Clients include Coinbase, MetaMask, Uniswap, and Stellar.
- Stablecoin transaction volume hit $8.5 trillion in the latter half of 2024.
CEO Ido Ben-Natan emphasized the need for advanced machine learning capabilities to combat evolving threats in the blockchain space.