Salesforce and Samsung Add to Earlier $35M Investment in Digital Asset

Published at: Feb. 5, 2020

Venture arms for Salesforce and Samsung participated in a second Series C funding event for a startup called Digital Asset. 

After gathering $35 million in its first Series C raise that ended in December 2019, Digital Asset decided to run another round, a Feb. 4 press release read. 

This second Series C funding attracted investment from Samsung Venture Investment Corporation and Salesforce Ventures, among others. 

“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,” Digital Asset Co-Founder and CEO Yuvol Rooz said in the press release.  

Digital Asset capital use

As a startup in the blockchain software niche, Digital Asset released a product called the Digital Asset Modeling Language, or DAML, in April 2019. An open-source project, DAML acts like smart contract coding, although it varies in terms of private execution. 

Digital Asset plans to put the capital gathered during its additional funding toward DAML adoption, fuel new DAML development products and release additional “DAML-enabled partner products,” the release said. 

New experienced hire

Digital Asset has also brought a technology veteran on board. After 28 years at Microsoft, serving some of that time as the tech giant’s corporate vice president, Susan Hauser joins Digital Asset’s board of directors, the press release said. 

Hauser also previously advised Digital Asset. “During my time as an advisor to Digital Asset, I quickly learned how transformative smart contracts could be for a variety of use cases and across industries,” Hauser said in the press release. “We are going to see adoption of smart contracts — and languages like DAML — take-off in the near future.” 

Cointelegraph also reported on Digital Asset’s partnership with Amazon’s AWS Aurora in June 2019. 

Cointelegraph reached out to Digital Asset for additional details but received no response as of press time. This article will be updated accordingly should a response come in.

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Blockchain
Business
Funding
Smart Contracts
Digital Asset
Samsung
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