Daml smart contract language creator raises $120M in Series D financing

Digital Asset, the creator of the Daml smart contract programming language, has secured $120 million in Series D financing from buyers 7RIDGE and Eldridge – setting the stage for continued growth of the blockchain and knowledge infrastructure firm.

The spectacular funding spherical follows a 12 months of serious progress for Digital Asset. The firm tripled its buyer base in 2020, with 50% of latest business coming from non-blockchain domains, in accordance with Emnet Rios, Digital Asset’s CFO and COO.

He defined:

“We saw significant demand for Daml to solve internal challenges of data silos within an organization. As a result, we expanded our product portfolio to support 10 different underlying ledgers, including traditional databases.”

Digital Asset plans to make use of the funds to develop its staff and improve its interoperability protocol throughout blockchains and conventional databases.

The newest financing spherical follows a $45 million Series C funding marketing campaign in 2020 that was led by Salesforce, Samsung and VMWare. Digital Asset is backed by a number of high-profile corporations, together with IBM, JPMorgan Chase, Accenture and Goldman Sachs, amongst others.

Daml, which stands for Digital Asset Modeling Language, is a programming language that allows builders to construct full-stack, distributed purposes for blockchain and databases. Daml became a freely available open-sourced programming language in April 2019. Since then, it has been adopted by a number of main organizations.

As Cointelegraph reported in September 2020, Daml is being deployed by China’s Blockchain Services Network because it pursues decentralized purposes. In July 2020, Daml became fully integrated with Corda Enterprise, the business blockchain platform of R3. Daml was additionally the basis of a digital bond offering from Singapore Exchange, a significant holding firm in the tiny city-state, final September.