Digital Asset Holdings Raises $40 Million US in Series B Financingbr>
Digital Asset Holdings (DAH) has raised over $40 million US in a Series B funding round. The latest round brings the total funding raised by the company to over $110 million.
The round was led by Jefferson River Capital LLC, the family office of Tony James, President and Chief Operating Officer of private equity firm Blackstone. The funding will be used to grow the company’s team, which is 130-strong globally.
“As we head into 2018, we will seek to grow both to continue the existing projects we are working on to bring them into production and to take on new ones,” said Digital Asset Holdings CEO Blythe Masters.
The company also announced that Clyde Rodriguez, former Co-CTO of hedge fund Two Sigma Investments, has joined DAH as chief information officer and CTO of engineering.
Rodriguez was an early member of Microsoft’s Azure Cloud organization, having formed and led the Azure Cloud Networking group as general manager. Previously, he led the Microsoft Windows Division in creating and delivering the company’s first 64-bit Windows Client and Server x64 Edition operating systems.
“Distributed Ledger Technology has the potential to bring greater transparency, security and efficiency to financial services and beyond,” said Rodriguez. “We are in the early stages of an important technological transformation that requires strong engineering discipline to deliver credible and practical solutions. I am excited to join a world-class team that has the necessary skill and focus required to accelerate these important innovations, while helping our customers embrace the benefits of DLT.”
“Clyde is a respected technology executive with a strong track record of leading engineering teams to develop mission-critical enterprise software that supports hundreds of millions of customers worldwide,” said Masters. “The addition of Clyde and the closing of our Series B financing position Digital Asset to capitalize on the enormous opportunities we see.”
Headquartered in New York City, Digital Asset Holdings is a blockchain technology company that was founded by Sunil Hirani and Don Wilson in 2014. The company provides settlement and ledger services for financial assets. The company appointed former commodities trader Blythe Masters as CEO in March of 2015 and received $67 million in funding in 2016.
Digital Asset Holdings has acquired several other financial technology firms in its brief existence. In June of 2015, the company acquired blockchain companies Hyperledger and Bits of Proof. It purchased BlockStack in October, 2015. In April of 2016 it acquired Elevance Digital Finance. The company’s technology was used in the $5 million IPO of gaming company Pivit. Other high-profile clients on the Digital Asset roster include the DTCC and SIX Securities Exchange.