Samsung, SalesForce Participate in Digital Asset’s $35M Funding Round


Blockchain startup Digital Asset has announced on Tuesday the closure of its Series C financing round after receiving funds from Salesforce Ventures and Samsung Venture Investment.

This is the second closure of the financing round as the company already closed the round in December after raising more than $35 million.

With this, the company has raised around $150 million since its launch in 2014.

Headquartered in New York, Digital Asset developed a smart contract language named DAML. It is used to create smart contracts or computer programs that automate business processes and digitally verify and enforce agreements between two or more entities.

Commenting on the funding round, Yuval Rooz, co-founder and CEO of Digital Asset, said: “Salesforce Ventures and Samsung joining our Series C financing round demonstrates the potential that technology giants see in DAML as the standard for smart contracts.”

Per the press release, the fresh funds will be used to accelerate the adoption of the language across multiple industries. It is also aiming to expand the number and variety of DAML-enabled partner products and fund new products designed to enhance the DAML developer experience.

“We strongly believe that Digital Asset’s model to embed DAML in partner platforms fundamentally changes the entire blockchain market,” a spokesperson from Samsung Venture Investment, said. “Digital Asset has positioned itself for success in the blockchain space and we are pleased to help it achieve its vision.”

Adding expertise to the board

In addition, the company also announced the addition of Susan Hauser, an advisor to the firm, to its board of directors.

“Appointing Susan Hauser to the board will help us capitalize on this vision. She brings us her unparalleled understanding of customer needs and exceptional experience building an enterprise business at Microsoft,” Rooz added.

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