Samsung and Salesforce dive head on: $35M Funding In Blockchain Company

By Raghav Sawhney

Samsung Ventures investment Corp and Salesforce Ventures took part in a series C funding round for a blockchain company called Digital Asset Holding. In two months it was the second funding round for the company.

Digital Asset is a financial technology company that builds products based on distributed ledger technology for regulated financial institutions, such as financial market infrastructure providers, CCPs, CSDs, exchanges, banks, custodians and their market participants. Digital asset is majorly known for its creation of smart contract modelling language DAML.

The blockchain technology company after a successful series C financing round made an announcement yesterday. The company managed to raise about 35 million dollars which  it would be using for catalysing the adoption of the DAML smart contract.

The technology mammoths Samsung and Salesforce ventures were among few of the participants in the investment round, one of the spokesperson from Samsung did describe, that Digital Asset is one of the flourishing firms in the space of blockchain and, the language developed by them DAML could fundamentally revolutionize the entire blockchain market.

The Co-Founder and CEO of Digital Asset, Yuval Rooz said that “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.”

In a Series C round, venture capital firms inject capital in well-established businesses to assist with scaling and growing the existing products or creating new ones.In last few months this is the second recent Series C funding for Digital Asset. The initial funding which raised  $35 million was revealed by the company on December 11th,2019.

The company after a series of consecutive funding hires a former Microsoft executive,  Susan Hauser to the company’s board of directors. Then new hiree Hauser is a former corporate vice president of Microsoft worldwide enterprise and partner group.

Yuval Rooz also commented on Hauser’s appointment, saying that “she brings us her unparalleled understanding of customer needs and exceptional experience building an enterprise business at Microsoft.”