Coincover Secures $30 Million to Fortify Digital Asset Security

Funding Round Overview

London-based Coincover, a pioneer in digital asset protection, has successfully raised $30 million in a funding round spearheaded by the investment firm Foundation Capital, with additional backing from CMT Digital. With this newfound cash flow, Coincover is geared up to expand its operations, ramp up hiring, innovate product development, and nurture strategic partnerships.

Fortifying the Cryptocurrency Ecosystem

As concerns over digital asset security continue to cloud the cryptocurrency landscape, Coincover is stepping up its game. The funds will be employed to enhance security measures for both businesses and individual investors, significantly bolstering the overall integrity of the crypto industry. This initiative aims to provide a cushion against cyber threats and human errors—because let’s face it, clicking the wrong button could cost you a fortune.

Company Background

Founded in 2018 and officially launched a year later, Coincover emerged with a mission: to instill trust in the volatile world of digital assets. The firm currently collaborates with over 300 clients, spanning exchanges, wallets, hedge funds, banks, and custodians. Its goal? To craft a more reliable and mature digital asset sector by minimizing scams and fraudulent activities.

A Message from Leadership

David Janczewski, Coincover’s co-founder and CEO, expressed enthusiasm regarding the funding. “At Coincover, we’re proud to prevent users from losing access to their cryptocurrency, whether that be through a mistake or the misfortune of being targeted by malicious online hackers. […] Through this new funding, we can supercharge our service for all existing and future customers — building a better and more mature digital asset ecosystem in the process,” he stated. Sounds like a superhero moment, right?

The Bigger Picture

Coincover’s funding comes amidst a climate where, despite a protracted bear market, Web3 projects are still finding a way to raise capital. For instance, recently, Injective launched a hefty $150 million ecosystem fund aimed at uplifting decentralized finance in the Cosmos realm. Like a phoenix rising from the ashes, innovation keeps wandering the corridors of the digital asset world, proving that perseverance pays off.