Miami-Based Crypto Security Firm Halborn Raises $90M in a Series A Funding Round

Miami-Based Crypto Security Firm Halborn Raises $90M in a Series A Funding Round

The startup is on a determined mission to offer as much security in the crypto industry as possible.

Halborn, a Miami-based blockchain security firm founded in 2019, has recently announced that it secured $90M in a Series A funding round led by prominent investors in the crypto world such as Castle Island Ventures and DCG.

According to the official statement issued on July 20th, the company will leverage the fresh capital to provide more security in the crypto ecosystem and expand its audit, as well as pen testing services, amid the current crypto bear market.

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The fundraiser also saw participation from Boston-based equity company Summit Partners, a chain of department stores Fenwick, fintech-driven venture firm Third Prime, VC fund Sky Vision Capital, and Brevan Howard, a European-based hedge fund.

Likewise, Halborn, already serving over 250 clients, will allocate some part of the funds to accelerate its hiring processes and boost its team with talents who have experience in the engineering, security, marketing, and product fields.

Paul Vijender, field CISO at Halborn, mentioned that the multi-million dollar capital that the firm managed to raise displays its dedication to safeguarding the crypto industry, noting that it will pave the way for Halborn to form more relationships with security-driven players in the industry. He added:

"I think there's a lot of opportunity to solve security problems in the crypto industry, and we need all the help we can to really enable this paradigm-shifting technology and help it reach its potential. Security is going to be a huge part of that."

Rob Behnke, CEO of Halborn, has also shed some light on how the market downturn touched the company by stating that the recent price drops haven’t affected the company a bit. On the contrary, he believes that the crypto industry is still at an early stage and will grow in the future even more.

The security organization has already joined forces with crypto-driven initiatives such as Coinbase and Ava Labs, as well as several non-crypto giants, including Nike, BNY Mellon, and Amazon.

On another note, Halborn isn't the only one to collect a massive amount of funds during such a hard period for the whole crypto environment. For instance, last week, 5ire, a Layer-1 blockchain unicorn, announced that it secured $100M in funds to expand across Europe and North America.

Likewise, earlier in July, gaming giant Animoca Brands noted that it managed to raise $75M in a funding round led by Winklevoss Capital, Liberty City Ventures, Soros Fund Management, and others. The company will allocate a major part of the funds to make strategic investments.

Gyth L. - Crypto Analyst

by Gyth L. - Crypto Analyst, BitDegree