Join a rare subset of startup unicorns with 9-figure recurring income, Fireblocks achievement underscores the adoption of digital assets at scale in the Web3 economy
NEW YORK, September 12, 2022 /PRNewswire/ — Fire blocks (www.fireblocks.com), an easy-to-use platform for creating innovative products on the blockchain and managing day-to-day crypto operations, announced today that it has surpassed 2022 Annual Recurring Revenue (ARR) $100 million just four years after the company’s inception and three years since Fireblocks’ first product went on the market. This achievement puts Fireblocks among a rare subset of SaaS unicorns — including Slack and Twilio — that have reached this coveted valuation milestone in less than five years.
Founded on a mission to enable every business to easily and securely support digital assets and cryptocurrencies, Fireblocks’ explosive growth coincides with the overwhelming interest in decentralized finance, blockchain and Web3 technologies from the world’s largest banks, consumer brands, gaming companies, fintechs. , startups and enterprises.
“For the digital asset industry, 2022 was a year of consolidation as well as tremendous growth,” said Fireblocks co-founder and CEO, Michael Shaulov. “We have seen an unprecedented volume of new market entrants, including fintechs, Web3 startups, banks and PSPs. As a result of Fireblocks’ MPC custody and treasury management technology, which has become one of the most fundamental pieces of infrastructure for the digital asset ecosystem, we have seen first hand the innovation happening among fintechs, Web3 start-ups, banks and PSPs who are diligently bringing new digital asset products to market.We will continue to expand our secure and scalable product suites to meet this market demand and every business that joins the decentralized economy.”
“Fireblocks’ growth is a testament to the quality of its product and the dedication of the team that builds it,” said Michelle BailhePartner at Sequoia. “As crypto becomes increasingly integrated into global financial infrastructure, Fireblocks will continue to grow in importance, enabling businesses to deliver secure crypto products for customers around the world, ranging from crypto and fintech startups to large financial institutions.”
Fireblocks is the only platform that eliminates a single point of failure and insulates digital assets against cyber-attacks, internal collusion and human error using a patent-pending multi-layered security approach. As digital assets and crypto enter mainstream consciousness, Fireblocks’ MPC-CMP technology has been widely adopted by some of the world’s most recognized institutions and cutting-edge startups such as BNP Paribas, Six Digital Exchange, ANZ Bank, FIS, Checkout .com, MoonPay, Animoca Brands and Wirex. In 2022, more than 1,500 organizations deployed Fireblocks’ technology to protect customer and investor funds, strengthen digital asset security, and streamline day-to-day crypto operations.
“Businesses – from startups to enterprises – essentially reach out to Fireblocks to maximize security in their technology stack so they can focus on their core competencies: building innovative services and products for their customers, while maintaining agility and the ability to respond quickly become against winds,” said Idan Ofrat, Fireblocks’ Chief Technology Officer and Co-Founder. “As we look to the future, we are committed to delivering the same secure, easy-to-use and scalable solution for emerging market entrants and use cases such as stablecoin issuance, NFT treasury management and crypto payments.”
“Fireblocks provides critical infrastructure for a wide range of companies looking to build out digital asset operations, including gaming, fintechs, banks and more,” said Arjun BalajiAn investment partner with Paradigm. “At Paradigm, we’re committed to supporting organizations like Fireblocks that empower developers and ultimately make Web3 more user-friendly and secure.”
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Learn more about how Fireblocks can power your digital asset business here: https://www.fireblocks.com/.
Fireblocks is an enterprise-grade platform that delivers a secure infrastructure for moving, storing and issuing digital assets. Fireblocks enables exchanges, lending banks, custodians, banks, trading banks and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based wallet infrastructure. Fireblocks serves more than 1,500 financial institutions, has secured the transfer of more than $3 trillion in digital assets, and has a unique insurance policy that covers assets in storage and transport. Some of the largest commercial banks have switched to Fireblocks because it’s the only solution that CISOs and Ops teams both love. For more information, please visit www.fireblocks.com.
SOURCE Fire blocks