The Israeli crypto crypto Firefox is raising $ 400 million at a value of $ 8 billion, according to “the information”. The recruitment, if completed, will make Fairblocks one of the three private high-tech companies with the highest value costs in Israel after Rapid and Scenic. Fireblocks does not respond to advertising.
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Fairblocks, which develops cyber defense solutions for the digital currency sector, completed its most recent round of funding in July this year, when it received $ 310 million at a value of $ 2 billion. The previous round was led by the Sequoia Venture Capital Fund, which is also participating in the current round. Other investors are Stripes, Spark Capital and the giant COATUE fund. With the new round, Fairblocks’ total funding is approaching $ 900 million.
The field in which Fireblocks operates – building the infrastructure for a secure digital wallet for cryptocurrencies – has been hot recently and only this week the American COINBASE acquired the Israeli unbundled for an estimated amount of $ 200 million. Anbound, which will become the base of the crypto giant’s development center in Israel, is a direct competitor of Fairblocks. The companies model is based on viral distribution similar to payment apps that require both parties who want to make a deal between them to download the app.
Thanks to this model, the players in the field are growing at a fast pace and Fairblocks itself is also considered one of the fastest growing technology companies in Israel. It was founded only in 2018 by Michael Shaulov, Idan Ofrat and Pavel Bergolz, who previously founded the cyber company Lacon, which sold for $ 100 million to Check Point. Fairblocks’ product was launched only two years ago, but already today it has about 300 customers, including large financial entities such as BNY MELLON Bank. To date, $ 300 million worth of assets have been transferred to its infrastructure.
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