Blockaid Secures $50 Million in Series B Funding

Blockaid, a cybersecurity firm focusing on blockchain security, announced it has raised $50 million in a Series B funding round aimed at expanding its research, engineering, and product development.

Funding Details

Ribbit Capital led the funding round, which also saw participation from GV and existing investors such as Variant and Cyberstarts. This investment comes amid rising demand for blockchain security as major financial institutions and fintech firms increasingly expand their on-chain operations.

Company Overview

Founded in 2023, Blockaid previously raised $27 million in a Series A round. The company offers real-time threat detection for blockchain transactions by integrating directly with wallets and decentralized applications (dapps), protecting users from malicious actors. Last year, Blockaid scanned over 2.4 billion transactions, successfully blocking 71 million attacks.

CEO’s Statement

“While the blockchain itself is secure, on-chain applications and the users that interact with them are at risk,” said CEO Ido Ben-Natan. “This investment will help us continue to advance our machine learning capabilities and expand our current offerings to stay ahead in the highly adversarial landscape of evolving threats.”

Clientele

Blockaid’s security solutions are utilized by notable companies such as Coinbase, MetaMask, Uniswap, and Stellar.

Blockchain Activity Surge

The investment coincides with a significant rise in blockchain activity, highlighted by stablecoin transaction volumes reaching $8.5 trillion in the latter half of 2024.

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