Bitwave closes $15m Series A for enterprise crypto-management platform

Bitwave, a provider of enterprise solutions for crypto management, accounting and taxation, has closed a $15m Series A round.

Huge news! #Bitwave has rasied our Series A from top investors including @hack_vc @blockchaincap, Valor Equity Partners, @SignalFire, @PulsarTrading, @arca, @alumniventures, and @HuttCap

Read more here: https://t.co/IaKVEI83Zi pic.twitter.com/35yHt4i9LT

— Bitwave (@BitwavePlatform) December 6, 2022

Led by Hack VC and Blockchain Capital. Participants include SignalFire, Valor Equity Partners, Arca, Pulsar Trading, Alumni Ventures Blockchain Fund and Hutt Capital.

The financing will fund a new product designed for custodians, exchanges, financial institutions that manage assets and other institutional players.

The firm described Bitwave Institutional as “a set of processes, governance elements and technologies designed to boost confidence in the new system of financial asset accounting.” The solution is built on the platform’s flagship enterprise product and includes, among other features, reserve-proof and liability-confirmation capabilities.

“This round of funding again demonstrates the strength of our technology and shows that Bitwave has become an important part of the infrastructure for enterprises deploying digital assets,” said Chief Operating Officer and co-founder Amy Kalnoky.

Hack VC managing partner Ed Roman noted that Bitwave was chosen as the provider of crypto-accounting software after a thorough evaluation of service providers in the field.

According to the platform, its clients include many large industry players such as OpenSea, Compound, Marathon Digital and Polygon.

In November, despite a deep market correction, several large venture rounds in the industry were announced. Market-maker Keyrock raised $72m, the infrastructure startup Ramp — $70m, and the blockchain-game developer Skyweaver — $40m.

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