Digital Asset Raises $35 Million in Series C Financing to Capture Smart Contract Market with DAML
Funding will be used to expand variety of partner platforms that run DAML applications
New York -- 11 December 2019 -- Digital Asset, the creators of the open source DAML smart contract language, announced today that it has raised more than $35 million in Series C funding from new and existing investors. The latest financing round brings the total amount raised by Digital Asset since its establishment in 2014 to $150 million.
The funds will be used to accelerate the adoption of DAML across multiple industries, expand the number and variety of DAML-enabled partner products and fund new products designed to enhance the DAML developer experience, specifically project:DABL, a cloud-based prototyping and production environment for DAML applications.
“DAML allows you to focus only on what you need to do to differentiate your product and eliminate the complexity that doesn’t provide value to your organization,” said Yuval Rooz, co-founder and CEO of Digital Asset. “Ninety percent of development time is wasted on undifferentiated work. With this new funding we will go further on this mission to focus on the 10 percent value-add by providing a world class smart contract experience regardless of where your application runs.”
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