In tandem with an impressive $33 million fundraising effort, Blockaid proudly emerges from its shroud of secrecy, boasting a clientele that includes heavyweights such as MetaMask and OpenSea.
Blockaid, the pioneering blockchain security startup and close affiliate of the renowned MetaMask cryptocurrency wallet, has successfully secured a whopping $33 million in funding to facilitate the expansion of its cutting-edge technology, engineered to thwart malevolent transactions.
The Series A financing round for Blockaid was spearheaded by leading names in the world of venture capital, including the formidable Coinbase investor, Ribbit Capital, and the forward-thinking early-stage VC firm, Variant. Complementing this, Sequoia Capital, Cyberstarts, and Greylock Partners also joined the funding consortium.
Breaking the news on October 23, Blockaid announced the end of its covert operations, unveiling its maiden customers: MetaMask, the OpenSea marketplace, the Rainbow wallet, and the Zerion wallet. The startup has cemented a strategic partnership with the goal of furnishing robust security solutions for Web3 applications, all while shielding users from nefarious transactions.
MetaMask had previously revealed its collaboration with Blockaid and OpenSea in April 2023, introducing an experimental feature aimed at cautioning users when they encountered “known scams.”
“Users who opt for this feature will benefit from OpenSea’s comprehensive list of recognized scams, coupled with Blockaid’s in-depth scrutiny of malevolent behaviors such as signature farming and wallet depletion,” the company affirmed at the time.
This latest influx of funds is set to propel Blockaid’s blockchain security offerings to new heights, further bolstering the industry’s defenses against cyberattacks and fraudulent schemes. Established in 2022 by former members of Unit 8200, the largest unit in the Israel Defense Forces, Blockaid is designed to seamlessly integrate with any blockchain network. Its security solution boasts the capability to detect malicious decentralized applications and perform full off-chain signature simulations.