Digital Asset Raises $120M in Growth Funding

Digital Asset

Digital Asset, the NYC-based creator of the Daml multi-party application
platform, raised over $120m in Series D funding.

Backers included 7RIDGE and Eldridge. In conjunction with the funding, Carsten Kengeter and Veronica Augustsson of 7RIDGE joined the Digital Asset Board.

The company intends to use the funds to continue to expand its team, enhance its product portfolio with a new interoperability protocol that enables data to interact across blockchains and traditional databases, creating an interoperable data network across systems of record.

Led by Emnet Rios, CFO & COO, and Yuval Rooz, Co-Founder and CEO, Digital Asset allows companies of all sizes and across industries get distributed applications to market faster, and stay there longer. At the core of its service offering is Daml, an application platform unconstrained by organizational boundaries which allows companies to create new multi-party solutions.

The company works with organizations in financial services, healthcare and insurance, including the Australian Securities Exchange, BNP Paribas, Broadridge, Change Healthcare, and Hong Kong Exchanges and Clearing.

The latest round of financing follows a $45m Series C round in 2020, which included participation from Salesforce, Samsung and VMware, as well as existing investors. Digital Asset is backed by a range of strategic investors, including leading financial and technology companies Accenture, Citi, Goldman Sachs, IBM, and J.P. Morgan, among others.