Funding round
BlockFi Seed
BlockFi, which works in digital asset management services in Jersey City, raised $1.6M in a Seed round announced on 15 Feb 2018. 6 firms took part. It is BlockFi's first venture round on record.
$1.6M
Amount raised
Not disclosed
Post-money valuation
6
Investors
no lead named
Valuation
What this round says about the price
BlockFi did not disclose a valuation in this round. It is BlockFi's first venture round on record, 1 year after it was founded in 2017. It is under 1% of the $420M BlockFi has raised in the venture rounds on record. BlockFi raised again 18 months later: a Series A round of $18M in Aug 2019. Its next priced round, a Series D in Mar 2021, valued it at $3.00B.
BlockFi's funding rounds
BlockFi has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
6 firms took part; no lead investor was named.
Investors
- ConsenSys Ventures new investor
- backs 19 venture-backed companies new investor
- backs 36 venture-backed companies new investor
- SoFi new investor
- Purple Arch Ventures new investor
- new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations and working capital.
- Scaling operations
- Working capital
Comparable rounds
How it compares
12 Seed rounds in Cryptocurrency within a year either side disclosed an amount; the median was $2.7M, and this round was 58% of the median. The closest in time, other companies' Seed rounds in Cryptocurrency:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Cryptocurrency | 1 Mar 2018 | $3.4M | not disclosed | AngelList |
| Cryptocurrency | 7 Mar 2018 | undisclosed | not disclosed | not named |
| Cryptocurrency | 1 Apr 2018 | $7.5M | not disclosed | not named |
| Cryptocurrency | 7 Jun 2018 | $3.0M | not disclosed | Starting Line |
| Cryptocurrency | 1 Jul 2018 | $4.0M | not disclosed | not named |
| Cryptocurrency | 17 Sep 2017 | $250K | not disclosed | not named |
| Cryptocurrency | 1 Aug 2018 | $2.4M | not disclosed | not named |
| Cryptocurrency | 1 Oct 2018 | $4.0M | not disclosed | Benson Oak Ventures |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did BlockFi raise in its Seed round?
BlockFi raised $1.6M in its Seed round, announced in Feb 2018.
Which investors took part in BlockFi's Seed round?
ConsenSys Ventures, Kenetic Capital, PJC, SoFi, Purple Arch Ventures and Lumenary Investment Management.
What was BlockFi's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Cryptocurrency?
12 Seed rounds in Cryptocurrency within a year either side disclosed an amount; the median was $2.7M, and this round was 58% of the median.
Did BlockFi raise again after this round?
Yes: a Series A round in Aug 2019 of $18M.