- Digital Asset announced that Salesforce Ventures and Samsung Venture Investment are participating in the company’s latest round of funding
Digital Asset announced that Salesforce Ventures and Samsung Venture Investment are participating in the company’s latest round of funding as the Series C now exceeds $35 million. And Digital Asset is known for working on a smart contract modeling language called DAML and integrating it with other frameworks.
This round of funding will be used to accelerate the adoption of DAML across a variety of industries and the company will also expand the number and variety of DAML-enabled partner products and fund the development of new developer-focused products.
“Salesforce Ventures and Samsung joining our Series C financing round demonstrates the potential that technology giants see in DAML as the standard for smart contracts,” said Digital Asset co-founder and CEO Yuval Rooz in a statement.
DAML was open-sourced last year. And now it is being used for creating smart contracts and verifying agreements between entities.
For example, the Australian Securities Exchange (ASX) is one of Digital Asset’s partners for integrating DAML technology. This will help the ASX is building a new post-trade solution based on blockchain technology.
With DAML, the ASX can set up direct connections to CHESS. And this will facilitate an option for customers to set up shared workflows on top of the platform.
Digital Asset originally said it had raised $35 million in Series C back in December 2019, from the ASX, Jefferson River Capital, and several other firms. That round of funding was at a valuation of $150 million.
Susan Hauser Joins The Board
Digital Asset also announced that Susan Hauser has joined its board. Hauser had previously worked at Microsoft for 28 years. At Microsoft, Hauser worked as the corporate vice president of Microsoft’s Worldwide Enterprise & Partner Group where she 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,” explained 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.”
