Web3 Security Company Blockaid Raised $33M, Led by Ribbit Capital and Variant

Web 3 security company Blockaid raised $33 million in funding. The funding came in two rounds with $6 million seed and $27 million Series A. Investors for seed round include Sequoia Capital, Greylock Partners and Cyberstarts. The Series A round saw participation from all three investors, as well as Ribbit Capital and Variant, who both co-led the round.

Blockaid offers web3 security tools to help prevent crypto fraud, phishing and hacks. Blockaid can fully examine off-chain signatures (EIP-712s) as effectively as on-chain transactions.

Ido Ben-Natan, co-founder and CEO of Blockaid said:

"We simulate and validate blockchain transactions before they are executed. Our dApps Scanning Engine fully simulates all possible user interactions on any dApp. It does this through our dApp Scanning Sandbox, which validates whether the interactions — and the dApp itself — are malicious."

Clients of Blockaid include MetaMask, OpenSea, Zerion Wallet and Rainbow Wallet. The firm aims to onboard more clients with the fresh capital.

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