Coincover – the leading digital asset protection technology company – announced a $30 million funding round, led by the Silicon Valley Capital Fund. The new capital will accelerate recruitment, product updates, and partnerships to protect the crypto ecosystem – preventing, compensating, and protecting against crypto threats.

Founded in 2018 and launched in 2019, Cardiff-based Coincover offers digital asset protection that helps solve the biggest barrier to mainstream adoption: trust. For years, security concerns and the ever-changing threat landscape have dominated the global perception of digital assets. Coincover challenges this perception by providing businesses, infrastructure providers, and consumers with access to products that proactively protect them from hackers and human error.

Coincover has worked with over 300 companies, from exchanges and wallets to hedge funds, family offices and banks. The company also works directly with a number of digital asset custodians to keep their customers safe. Existing customers include Fireblocks, Bitso and more. By significantly reducing the risk of moving and storing cryptocurrencies – preventing scammers and scammers from tracking them – Coincover provides a platform where the industry can grow by changing perceptions and winning. widely trusted.

Before Coincover was founded, co-founder and CEO David Janczewski spent 5 years working in blockchain at the Royal Mint for the UK government. While there, he identified and created a digital gold coin with CME Group, the world’s largest commodity derivatives exchange. Co-founder and CTO Adam Smith previously ran a cybersecurity consulting firm with clients in crypto, government, law enforcement, and defense. At Coincover, he focuses on large-scale security engineering.

The new funding will speed up customer adoption, ensuring Coincover can help any business or individual whose digital assets need protection. The alternative is to grapple with disaster recovery alone, which often requires a highly trained, secure operator, separate insurance, technical expertise, training, testing, and guaranteed hardware. high secrecy — an arsenal that is nearly impossible to assemble without the help of any company. Coincover’s service includes all of the above for a fraction of the cost.

“We’re delighted to partner with Foundation Capital, a firm with an unparalleled reputation for helping businesses scale to support customer growth. At Coincover, we’re proud to prevent users from losing access to their cryptocurrency, whether that be through a mistake or the misfortune of being targeted by malicious online hackers. In the wake of a challenging year for the crypto market, Coincover is in high demand, as businesses and consumers scramble to safeguard their digital assets. Through this new funding, we can supercharge our service for all existing and future customers – building a better and more mature digital asset ecosystem in the process.”

David Janczewski, CEO and co-founder of Coincover.

“After a tumultuous year for digital assets, investing in Coincover was a no-brainer. The brand offers assurance in a fast-paced market. This new funding will accelerate recruitment, product updates, and partnerships to safeguard the crypto ecosystem. With $3 billion stolen in hacks last year and 2023 set to see the arrival of crypto regulation, the opportunity is vast.”

Charles Moldow, General Partner at Foundation Capital.