BitGo, the US-based cryptocurrency wallet developer backed by bitcoin mining infrastructure provider BitFury, has raised $15m to extend its series B round to $57.5m.
The extra funding was provided by investment bank Goldman Sachs’ Principal Strategic Investments unit and investment firm Galaxy Digital Ventures.
The round’s $42.5m first close in December 2017 included commitments from trading firm DRW, investment firm Valor Equity Partners and venture capital firms Craft Ventures and Redpoint Ventures.
Founded in 2013, BitGo has developed blockchain security products aimed at institutional investors. Its multi-signature cryptocurrency wallet supports more than 95 different coins and tokens, with a total of more than $2bn in digital assets stored on the service by clients.
BitFury invested an undisclosed amount in BitGo in September 2014 through corporate venturing vehicle BitFury Capital, following a $12m series A round led by Redpoint Ventures three months earlier.
The series A round also included Bridgescale Partners, Radar Partners, Founders Fund, Bitcoin Opportunity Corp, Liberty City Ventures, Crypto Currency Partners, A-Grade Investments and assorted angel investors.
