Fireblocks raised $133 million in Series C just four months ago. Calcalist revealed in June that the company was being sued for the loss of $75 million worth in cryptocurrency Ether.
Fireblocks co-founder and CEO Michael Shaulov told Calcalist that “the legal proceedings had no effect on the funding round as, with all due respect to their lawsuit, it is clear to me what the result will be.” Shaulov, who sold his previous startup Lacoon to Check Point six years ago, added with a smile that “Gil Shwed won’t be buying us this time.”
Most of the funding will enter the company’s accounts, but part of it has been allocated for secondary deals, with the company allowing employees to sell some of their shares.
Shaulov told Calcalist that the round had one main important goal which was to send a message to the market that Fireblocks is an independent company and is here to stay. “Over the past year, there have been many mergers in our sector which added anxiety to the market. PayPal bought an Israeli company and one of our other competitors was also acquired. This funding round is a very important message for the market that we are not for sale. There aren’t many players in the market that can currently acquire us. We want to show everybody that we have a lot of money. The institutions with which we work like to cooperate with organizations that have a lot of money.”
Shaulov also added that “we will recruit more people to our team which helps financial institutions enter this new world. This is a new team that helps traditional players enter the crypto world. We are growing at a crazy rate. We have 500 clients today compared to…