Blockaid closes $50 million Series B to expand its machine learning security offerings

Onchain security platform Blockaid has raised a $50 million Series B at an undisclosed valuation, according to an announcement released on Tuesday. The round was led by Ribbit Capital, with participation from GV and existing investors, including Variant and Cyberstarts.

Blockaid is a cybersecurity technology provider for some of the leading firms and projects in crypto, including Coinbase, Metamask, Stellar, Uniswap and World App. The platform,  launched in 2023, secures over $101 billion in assets.

“The company outpaced its revenue targets amid surging demand for comprehensive blockchain security solutions,” Blockaid wrote in a statement. 

Blockaid uses machine learning models to scan transactions and decentralized application connections to detect potential threats. According to the firm, its tech detected and blocked more than 71 million attacks and identified over 15 million malicious dApps.

The company plans to use the funding to expand its research, product, engineering and go-to-market teams as it begins to see more business from outside crypto-native projects, including in the banking, fintech and hedge fund sectors. 

Blockaid has raised a total of $83 million, including its seed round.

This most-recent funding round represents the latest sign that the venture financing freeze in crypto is coming to an end. Following the market contagion of 2023 — beginning with the death spiral of Terra/UST and culminating in the collapse of the FTX fraud — VCs began to pull back support of the industry. 

According to The Block’s data dashboard , venture backing of blockchain startups rose to $13.7 billion in 2024 from the $10.7 billion deployed in 2023. However, funding remains far below the peaks of $33.3 billion in 2022 and $29 billion in 2021.

As The Block previously reported , however, many VCs view the Trump administration as a turning point for the industry and plan to begin investment more frequently.