Funding round
Blockstream Series A
Blockstream, which works in blockchain infrastructure development in Cayman Islands, raised $55M in a Series A round announced on 3 Feb 2016, led by Horizons Ventures, AXA Strategic Ventures and Digital Garage. 9 firms took part. It is Blockstream's second venture round on record; the one before was a Seed in Nov 2014.
$55M
Amount raised
Not disclosed
Post-money valuation
9
Investors
3 leads
Valuation
What this round says about the price
Blockstream did not disclose a valuation in this round. It came 15 months after Blockstream's Seed. It is 19% of the $286M Blockstream has raised in the venture rounds on record. Blockstream raised again 66 months later: a Series B round of $210M in Aug 2021, at $3.20B post-money.
Blockstream's funding rounds
Blockstream has 3 venture rounds on record and 2 other deals. This one is highlighted.
- Seed 17 Nov 2014, led by Khosla Ventures and Real Ventures $21M
- Series A this round 3 Feb 2016, led by Horizons Ventures, AXA Strategic Ventures and Digital Garage $55M
- Series B 24 Aug 2021, led by Baillie Gifford and iFinex $210M$3.20B post-money
- Debt not a venture round 24 Jan 2023, led by Kingsway Capital $125M
- Debt not a venture round 15 Oct 2024, led by Fulgur Ventures $210M
Investors
Who put money in
Horizons Ventures, AXA Strategic Ventures and Digital Garage led the round with 6 other firms.
Lead investors
- backs 97 venture-backed companies new investor
- AXA Strategic Ventures new investor
- Digital Garage new investor
Also in the round
- AME Cloud Ventures backs 105 venture-backed companies new investor
- backs 59 venture-backed companies new investor
- Future Perfect Ventures new investor
- Khosla Ventures backs 396 venture-backed companies new investor
- backs 39 venture-backed companies new investor
- Seven Seas Venture Partners new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion.
- Geographic expansion
Comparable rounds
How it compares
5 Series A rounds in Cryptocurrency within a year either side disclosed an amount; the median was $2.5M, and this round was 22 times the median. The closest in time, other companies' Series A rounds in Cryptocurrency:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Cryptocurrency | 6 Jan 2016 | $1.0M | not disclosed | not named |
| Cryptocurrency | 28 Sep 2016 | $2.5M | not disclosed | Monex Group |
| Cryptocurrency | 24 Oct 2016 | $5.0M | not disclosed | Accion Frontier Inclusion Fund and Quona Capital's Accion Frontier Inclusion Fund |
| Ripple Cryptocurrency | 19 May 2015 | $28M | not disclosed | not named |
| Cryptocurrency | 3 Jan 2017 | $1.9M | not disclosed | Huiyin Blockchain Venture |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Blockstream raise in its Series A round?
Blockstream raised $55M in its Series A round, announced in Feb 2016.
Who led Blockstream's Series A round?
Horizons Ventures, AXA Strategic Ventures and Digital Garage led it, with AME Cloud Ventures, Blockchain Capital, Future Perfect Ventures, Khosla Ventures and Mosaic Ventures and 1 more.
What was Blockstream's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Cryptocurrency?
5 Series A rounds in Cryptocurrency within a year either side disclosed an amount; the median was $2.5M, and this round was 22 times the median.
Did Blockstream raise again after this round?
Yes: a Series B round in Aug 2021 of $210M at $3.20B post-money.