Samsung and Salesforce Participate In $35M Funding Round For Blockchain Company

Samsung Venture Investment Corp (Samsung) and Salesforce Ventures, recently participated in a Series C funding round for a blockchain company called Digital Asset Holding. This is its second funding round in two months, each raising $35 million.

Samsung And Salesforce Invest In Digital Asset

Digital Asset, the creators of the smart contract modeling language, DAML, announced yesterday the successful Series C financing round. According to the statement, the company raised $35 million, which should be used for accelerating the adoption of the DAML smart contract.

The two technology giants, Samsung and Salesforce Ventures, were among the participants in the investment round. According to a spokesperson from Samsung, Digital Asset is a flourishing firm in the blockchain space, and DAML could fundamentally change the entire market.

Yuval Rooz, Digital Asset Co-Founder and CEO, said that “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.”

This is the second recent Series C funding for Digital Asset in the last few months. On December 11th, 2019, the company revealed the initial one, which raised again $35 million. In a Series C rounds, venture capital firms inject capital in well-established businesses to assist with scaling and growing the existing products or creating new ones.

Digital Asset Hires A Former Microsoft Executive

Amid the $35 million raise, Digital Asset announced the appointment of Susan Hauser to the company’s board of directors. Hauser is a former Corporate Vice President of Microsoft’s Worldwide Enterprise & Partner Group.

Yuval Rooz also commented on Hauser’s appointment, saying that “she brings us her unparalleled understanding of customer needs and exceptional experience building an enterprise business at Microsoft.”

During her time in Microsoft, Hauser was also serving as an advisor to Digital Asset. She pointed out that it helped her realize the potential of smart contracts:

“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. We are going to see the adoption of smart contracts – and languages like DAML – take-off in the near future.
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.”

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