Blockchain security firm Halborn has raised $90 million (€89 million), reports Bloomberg News. The deal is described as an outlier in a climate where venture capital investing in crypto start-ups has slowed and digital currency prices have nosedived.
Summit Partners led the Series A financing for Miami-based Halborn, which also included Castle Island Ventures, Digital Currency Group and Brevan Howard. The three-year-old Start-up declined to disclose its valuation.
Many crypto-adjacent companies have recently looked to raise money at lower valuations and have laid off employees as the prices of currencies like Bitcoin and Ether plummet. But Halborn Chief Executive Officer Rob Behnke says the Start-up’s focus on cybersecurity gives it some immunity to the chill of the crypto winter.
“The price of crypto has nothing to do with our business,” he said in an interview. “What really matters is that the entire industry is growing.”