Institutional Cryptocurrency Custodian Fireblocks Raises $550

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Institutional cryptocurrency custodian Fireblocks has announced it has attracted $550 million in a Series E funding round and that its market valuation has risen to $8 billion as a result of the fundraising.

According to the company announcement, the funding round has been led by D1 Capital Partners and Spark Capital, whereas General Atlantic, Index Ventures, Mammoth, CapitalG (Alphabet’s independent growth fund), Altimeter and ParaFi Capital have also contributed with their investment. In addition, some other investors who have previously invested in the company, including Sequoia Capital, Coatue, Ribbit, Bank of New York Mellon, Paradigm and SCB10x, have also participated.

The last time Fireblocks held another funding round was 5 months ago, when the company raised a total of $310 million in Series D funding and reached a valuation of $2.2 billion.

Fireblocks CEO Michael Shaulov has said the company has enjoyed “phenomenal financial results” in the past year, and the number customers is growing from 150 to over 800.