Digital Asset's Successful Series C Funding: What You Need to Know

Overview of the Funding Event

Digital Asset has taken a significant leap forward by securing a second round of funding in their Series C financing. After raising an impressive $35 million in the initial Series C round, which concluded in December 2019, they decided it was time to go for round two. The float was confirmed in a press release on February 4, showcasing a buzzing interest from major venture arms, including those of tech titans like Salesforce and Samsung.

Star Players: Salesforce and Samsung

The addition of investments from the Samsung Venture Investment Corporation and Salesforce Ventures highlights the immense potential that established technology giants see in the innovations brought forth by Digital Asset. As Yuval Rooz, Co-Founder and CEO of Digital Asset pointed out, this bold move demonstrates a growing recognition of the Digital Asset Modeling Language (DAML) as a standard for smart contracts. This isn’t just money; it’s a thumbs-up from the big players in tech!

What’s in the Capital Pot?

So, what’s Digital Asset planning to do with all this fresh capital? According to their press release, the company aims to ramp up DAML adoption, fund the development of new DAML products, and roll out additional “DAML-enabled partner products.” In the world of blockchain software, such advancements could be game-changing. And let’s face it, who doesn’t love a good acronym in tech?

Welcoming a New Face: Susan Hauser

In addition to the funding, Digital Asset has also enhanced its team by inviting Susan Hauser onto its board of directors. Previously a corporate VP at Microsoft for 28 years, Hauser brings a wealth of experience. Her insights from advising Digital Asset have illuminated her belief in the transformative power of smart contracts. “During my time as an advisor to Digital Asset, I quickly learned how transformative smart contracts could be for a variety of use cases across industries,” Hauser stated. It’s like having a tech wizard on your team!

Looking Ahead

With the financial backing and strategic hires, Digital Asset appears set to ride the wave of blockchain innovation. The company has already made headlines with its partnerships, such as the collaboration with Amazon’s AWS Aurora, which was reported back in June 2019. As the demand for smart contracts ramps up, expect to see Digital Asset leading the charge into an exciting future. Cointelegraph reached out for more updates and, while we await their response, we’re certain they’ll have exciting developments up their sleeves!