Israeli web3 security company Blockaid has come out of stealth, having raised $33 million. The recently completed Series A financing round was led by Ribbit Capital and Variant, with participation from Cyberstarts, Sequoia Capital, and Greylock Partners.
The new funds will be used to further develop products, expand the development team and its customer base. In less than a year, Blockaid has acquired many customers including Metamask, Opensea, Rainbow and Zerion – with more to be announced soon. This strategic alliance unites key industry leaders, providing the world’s most advanced security solution for web3 applications, protecting millions of users from malicious transactions before they happen.
Blockaid was co-founded by Ido Ben-Natan and Raz Niv, who served together in Israeli cyber intelligence. The company’s team of security experts includes over 20 former Israeli Unit 8200 cyber intelligence personnel, often regarded as some of the world’s best cryptographers who have found vulnerabilities in the most advanced operating systems and browsers to defend against nation-state actors.
Blockaid provides an essential layer of security for any blockchain application by scanning every transaction originating from a wallet, engaging with a dApp, or reaching a smart contract. Distinguishing itself from competitors, Blockaid is compatible with any blockchain network. Also, it is the only security solution capable of fully simulating offchain signatures (EIP-712s) as effectively as onchain transactions. This comprehensive approach ensures enhanced user protection.
Published by Globes, Israel business news – en.globes.co.il – on October 25, 2023.
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