Digital Asset Raises $120 Million Growth Round to Expand Daml Data Network

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New funding enables Digital Asset to grow global team and make Daml the unified standard across systems of record

April 21, 2021

Digital Asset, the creators of the Daml multi-party application platform, announced today it has raised over $120 million in Series D funding from 7RIDGE and Eldridge.

Leading organizations across the world rely on Daml to transform disparate data silos into synchronized networks, eradicating latency and errors by guaranteeing consistent data. Digital Asset’s customer base includes organizations across financial services, healthcare and insurance, such as the Australian Securities Exchange, BNP Paribas, Broadridge, Change Healthcare, and Hong Kong Exchanges and Clearing.

Digital Asset will use this financing to continue to expand its team globally by 50% this year. The company will also enhance its product portfolio with a new interoperability protocol that enables data to seamlessly interact across blockchains and traditional databases, creating an interoperable data network across systems of record.

Commenting on the news CEO & Co-founder, Yuval Rooz said “Without Daml, workflows cannot be shared privately and securely within and across organizations, leading to inconsistent data, expensive to adapt architectures, and a lack of common interfaces. This latest financing validates our vision of a global economic network that enables interoperable systems of record regardless of the underlying technology.”

The company also announced that Carsten Kengeter and Veronica Augustsson of 7RIDGE have joined the Digital Asset Board.

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