Miami-based blockchain security company Halbourne has closed a $90 million Series A funding round. The initiative comes at a time when several venture capital firms have withdrawn their interest in the crypto sector due to the market crash.
Moving Amid the Crypto Winter
In an interview for Bloomberg, Halborn revealed that the multi-million financing was led by major investors such as Summit Partners, Braven Howard, Digital Currency Group and Castle Island Ventures. However, the company declined to explain how the effort affected its valuation.
Halborn’s CEO – Rob Behnke – said that his organization believes in the future of cryptocurrencies, and that their unsatisfactory performance in recent months will not change that:
“The price of crypto has nothing to do with our business. What really matters is that the entire industry is growing.”
Hackers have recently breached several crypto projects, which has led to increased interest in Halborn’s services. Behnke outlined that his firm noticed a flaw in MetaMask when wrongdoers targeted users of the digital wallet on the pretext of KYC compliance.
“We’ve had this fix for about a year,” said Steve Walbrohl, co-founder and chief information security officer at Halborn.
It is worth noting that the blockchain security firm is collaborating with Coinbase and Ava Labs. It also provides educational services for non-crypto entities including Amazon, Nike and BNY Mellon on how to use and secure digital assets.
“They really want to make sure they don’t get hacked and lose all their money,” Behnke said.
And who moves on?
Last week, London-based Layer One blockchain firm – 5ire – closed a $100 million fundraiser, raising its valuation to $1.5 billion. The company vowed to use the funds to strengthen its presence in North America, Europe and Asia and welcome more members to its team.
Earlier, American crypto platform – FalconX – raised $150 million at a valuation of $8 billion. The investment will aid the entity’s ambitions to grow its services.
Last but not least, Animoca Brands secured a $75 million financing round led by Liberty City Ventures, Winklevoss Capital and Soros Fund Management. Following the initiative, the gaming platform’s valuation increased to nearly $6 billion. Speaking at the time was Yat Siu, who said that a bear market can be the right time when successful investing is made.
“Of course, we have to be a little more prudent, but we have a long-term vision for this space and are both committed and patient,” he said.
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