Behind Blockaid's Series B—Securing an Onchain Future
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.
That’s why, today, I'm proud to announce that Blockaid has raised $50M in Series B funding led by Ribbit Capital, with participation from GV alongside our existing investors, including Variant and our first seed investor, Cyberstarts. This investment will help us scale to meet the surging demand for our security platform as we protect the largest companies operating onchain.
Reducing crypto crime at scale
When we founded Blockaid, we set out to build trust in blockchain technology by closing the massive security gaps that were being exploited to commit billions in fraud. Since coming out of stealth, we've:
- Secured over $101 billion in assets
- Prevented more than $5.3 billion in potential losses
- Scanned over 2.4 billion transactions
- Protected over 787 million dApp connections
- Detected and blocked more than 71 million attacks
See the full stats here: stateofthechain.com
But what matters more than these numbers is what they represent: we've become the security infrastructure that makes onchain operations possible at scale—for crypto-native companies and the traditional institutions scaling their blockchain initiatives.
We do this through our end-to-end onchain security platform that provides:
- Direct wallet and dApp integrations for end-user protection
- Real-time monitoring, detection, and response for smart contracts, infrastructure, and EOAs
- Specialized fraud detection for complex scams
- Institutional safeguards, including transaction cosigning
Becoming the defacto onchain security platform
Our team's background in cyber intelligence taught us that security isn't just about catching bad actors—it's about preventing attacks before they happen.
We've built Blockaid with this principle at its core, creating the only end-to-end security platform that protects both internal teams and end users in real time.
What sets us apart is our unmatched visibility from direct integrations with the most used web3 wallets, plus internet-wide monitoring that stops threats before they reach users.
Not only does this give us the most comprehensive coverage of any security provider, but the more pre-transaction, onchain, offchain, and threat intelligence data our system sees, the more our models improve.
This flywheel effect has made us the platform of choice for industry leaders like Coinbase, Kraken, MetaMask, Uniswap, World App, and Stellar—as well as traditional institutions and fintechs.
The next phase of growth
DeFi usage is exploding, and the first wave of crypto-native companies are doubling down on security to keep up with demand.
In a recent viral post on X, Coinbase’s CEO Brian Armstrong highlighted the need for exchanges to adopt scalable security approaches that enable them to move from an allowlist model to a blocklist model where everything is tradeable unless flagged as a scam.
Beyond that, the second half of 2024 saw $8.5 trillion in stablecoin transaction volume across 1.1 billion transactions. As major financial institutions like J.P. Morgan, Fidelity, and UBS scale their blockchain initiatives, the need for enterprise-grade security has never been greater.
This investment will help us:
- Expand our research capabilities to stay ahead of evolving threats
- Scale our product and engineering teams to meet enterprise demand
- Strengthen our go-to-market operations to grow with current customers and support new types of customers with different needs
An exciting future ahead for Blockaid
When we started Blockaid, we knew that for blockchain technology to reach its potential, it needed a robust approach to cybersecurity. Today, we're not just working toward that vision—we're making it a reality at an unprecedented scale.
The trust placed in us by the largest companies operating onchain validates our approach and fuels our mission. With this new funding, we'll continue to advance our capabilities and expand our reach, ensuring that every onchain interaction is secure by default.
Thank you to our team, investors, and, most importantly, our customers who make this possible. The future of blockchain technology will be built on trust, and we're proud to be laying that foundation.