DAML Smart Contact Creator Digital Asset Gets Funding From Samsung, Salesforce Ventures

    Samsung Venture Investment together with Salesforce Ventures has invested in Digital Asset during the just-concluded second round of Series C funding series, according to a press release shared with us.

    The firm behind DAML smart contract language has announced that it raised $35 million in December last year during the initial Series C funding from Jefferson River Capital, Australian Securities Exchange (ASX) and others. This brings the entire fundraising by the firm to $150 million.

    In a press statement that was released on Tuesday, Samsung Venture, as well as Salesforce Ventures, are the latest entrants in the funding round. The money invested by the two firms will be utilized in enhancing the adoption of DAML in different industries. The funding will also be used in the expansion of DAML-enabled partner services and products as well as finance the introduction of new products that enhance the developer experience, says the press release.

    Apart from the new capital inflow, the firm also revealed that new faces will be joining its leadership team. Susan Hauster who used to work at Microsoft as the corporate vice president. Hauster has over 30 years of experience working at Microsoft and is set to assist Digital Asset Holdings to evaluate customer needs and come up with go-to-market plans.

    Addressing the press following her appointment to the board, Susan stated that very soon mass usage of smart contracts, as well as languages like DAML, will gain much momentum. She said:

    “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.”

    Yuval Rooz, Digital Asset’s co-founder, and CEO stated that the two giant tech firms joining the series C funding were a clear indication DAML has huge potential as smart contracts’ standard. Rooz also stated that the appointment of Hauser as a board member will enable Digital Asset to use her expertise in customer needs analysis to take the firm to the next level.

    A spokesperson from Samsung Venture explained that Digital Asset is set to excel in the blockchain space and aims at supporting the firm to achieve the vision.

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    Joseph Kibe
    Joseph Kibe
    Joseph is a blockchain and cryptocurrency enthusiast, with a strong conviction that exposure of blockchain technology is for the good of the society. Fascinated by the massive potential of cryptocurrencies and the technology behind them – blockchain – Joseph spent lots of his time learning more about the industry, becoming a polished expert writer in the sector. He covers any cryptocurrency and blockchain related content.

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