Today Digital Asset, the company behind the Daml smart contract language, announced a $120 million Series D funding from Eldridge and 7RIDGE. In previous rounds, the company was backed by the likes of Accenture, Citi, Goldman Sachs, IBM, JP Morgan, and others. While the startup is known for its strengths in financial services with clients like the Australian and Hong Kong stock exchanges, it’s also active in other sectors such as healthcare and insurance.
In late 2019, the company raised a $35 million Series C, bringing total funding to $150 million. Since then, VMWare, Samsung Ventures, and Salesforce Ventures have joined as investors adding another $10 million. VMWare now provides the ledger for the Australian Securities Exchange (ASX) project.
Carsten Kengeter and Veronica Augustsson of 7RIDGE have joined the Digital Asset Board. Kengeter was previously CEO at the Deutsche Börse at the time the stock exchange first invested in Digital Asset. Augustsson was formerly CEO of Cinnober Financial Technology before Nasdaq acquired it. Cinnober, like Digital Asset, provides technology solutions to numerous stock exchanges around the world, and Rooz first met Augustsson through the two companies’ relationship with the ASX.
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