US-based crypto security technology provider Curv has raised $23m in series A funding from investors including subsidiaries of financial services firm CommerzBank, digital currency exchange Coinbase and internet company Digital Garage.
CommerzVentures, Coinbase Ventures and Digital Garage’s Lab Fund joined cybersecurity company builder Team8 and crypto-focused venture capital investor Digital Currency Group in the round.
Curv has created a secure cloud-based wallet for digital assets using multi-party computation protocols. It also offers up to $50m in insurance for assets through a partnership with reinsurer Munich Re.
The series A proceeds will go to product and technology development, international expansion and increasing headcount.
Itay Malinger, Curv’s CEO, said: “Despite a challenging economic climate, we’re seeing strong growth among traditional financial institutions, who require our enterprise-grade security infrastructure, robust governance engine and seamless integration with blockchain technology.
“Unlike other legacy solutions, we simultaneously deliver the protection, instant liquidity and complete control required for all institutions to thrive in the digital asset economy.”
Team8 and Digital Currency Group co-led the startup’s $6.5m seed round in February 2019, investing with currency exchange operator Monex, Flybridge Capital, Jump Capital and Liberty City Ventures.
