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Digital Asset raises fresh funding

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Digital Asset (DA), the blockchain based startup that builds end-to-end distributed processing tools, announced Salesforce Ventures and Samsung Venture Investment Corp as participants in its Series C financing round.

The amount of investment from Salesforce Ventures and Samsung Venture Investment Corp remains undisclosed.

Yuval Rooz, co-founder and CEO of Digital Asset, said: “Salesforce Ventures and Samsung joining our Series C financing round demonstrates the potential that technology giants see in DARPA Agent Markup Language (DAML) as the standard for smart contracts.”

The use of the smart contract language DAML is the focus for Digital Asset, as it is compatible with multiple blockchains or distributed ledgers, in addition to conventional databases. 

This follows the news that Digital Asset raised over US $35 million in December 2019 for its Series C round through Jefferson River Capital and the Australian Securities Exchange.The startup’s total funding is now up to US $150 million.

Digital Asset intends to use the funding to adopt DAML across multiple industries with expansion to the number of DAML-enabled partner products, as well as funding new products designed to enhance the DAML developer experience.

The company also announced that Susan Hauser has joined the board of directors at Digital Asset. She worked at Microsoft for 28 years, where she was corporate vice president of Microsoft’s Worldwide Enterprise & Partner Group and headed up the company’s commercial, government and enterprise partnerships around the world.

“We are going to see adoption of smart contracts – and languages like DAML – take-off in the near future,” said Hauser. “I look forward to lending my expertise and helping DA expand its go-to-market activities and transform entire industries with DAML, delivering innovation without compromising trust.”