Israel-based Blockaid has raised $50Mn in Series B funding round led by Ribbit Capital, with participation from GV alongside existing investors, including Variant and its first seed investor, Cyberstarts.
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This investment will help Blockaid to scale to meet the surging demand for our security platform as we protect the largest companies operating onchain.
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The number of users and organizations moving onchain is increasing rapidly. DeFi usage is surging, and fintechs like Stripe and major institutions like J.P. Morgan, Fidelity, and UBS are scaling their blockchain initiatives.
While the blockchain itself is secure, onchain applications and the users that interact with them are at risk. Both consumers and organizations face threats from nation-states and sophisticated actors from the day new projects launch.
While early blockchain security solutions focused on catching criminals, Blockaid was created to stop onchain crime at scale—and the impact we’ve been able to drive in just over a year and a half since coming out of stealth is staggering. But there’s still more to be done.
Raz Niv said: “We provide security services for blockchain transactions. We analyze every transaction to determine if there is a risk of financial loss. The crypto world is rife with attacks aimed at stealing money, and companies rely on us to safeguard their processes. Our customers span every possible profile. We monitor transactions, ensuring they proceed only when their risks are fully understood.
“We protect assets worth $100 billion and have prevented approximately $5 billion in losses. Many of the attacks we see are backed by state-sponsored groups, while others come from cybercriminals. Various military units now focus on crypto because every successful attack directly translates into financial gain, making it different from other cyber threats,” he explained.
“In cybersecurity, there are many categories, but we are operating in a new space. We are facing a wave of attackers for the first time, and they are already trying to circumvent our solutions—some even increasing their budgets to do so. Fortunately, there are very few instances where they succeed.”
About Blockaid
Blockaid was founded in 2022 by Ido Ben-Natan and Raz Niv. Blockaid is the onchain security platform trusted by chains, protocols, wallets, exchanges, banks, and digital asset managers to understand and secure what matters most. It provides unmatched visibility from direct integrations with the most used web3 wallets, plus internet-wide monitoring that detects threats before they reach users.
