Blockaid, a cyber security company that specialized in blockchain security, said it raised $ 50 million in a Series B financing round to help expand research, technique and product development.

Ribbit Capital led the round with support from GV and existing investors, including variant and cyberstarts, the company said. The funding comes as the demand for blockchain security increases, with large financial institutions and fintech companies expanding their on-chain operations.

Blockaid, who started operations in 2023 and raised $ 27 million in a series of A-round, provides real-time threat detection for blockchain transactions. The company integrates directly with wallets and decentralized applications (DAPPS) to secure users from malicious actors. Last year, the platform scanned more than 2.4 billion transactions and blocked 71 million attacks.

“While Blockchain itself is secure, applications to the chain and users who interact with them are at risk,” CEO Ido Ben-Natan said in a statement. “This investment will help us continue to promote our machine learning functions and expand our current offerings to remain in a very contradictory landscape with evolving threats.”

Blockaid’s Security Network is used by companies such as Coinbase, Metamask, Uniswap and Stellar.

The investment follows an increase in blockchain activity in which stablecoin transaction volume reaches $ 8.5 trillion in the latter half of 2024.

See also: More than half of Crypto -Tokens, which was debuted in 2024, was malicious: Blockaid

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