A Cardiff-based digital asset protection technology company has secured $30 million in funding to "supercharge" its services.
Coincover said the funding would help accelerate customer adoption, ensuring it can help any digital asset business or individual in need of protection.
Funding was provided by Foundation Capital of Silicon Valley with a follow-on investment from CMT digital.
Coincover works with more than 300 companies, from exchanges and wallets to hedge funds, family offices and banks. It also works directly with various digital asset custodians to help them keep their clients safe.
David Janczewski, CEO and Co-Founder of Coincover, said: "At Coincover, we pride ourselves on preventing users from losing access to their cryptocurrency, whether through a mistake or the misfortune of being attacked by malicious online hackers."
"In the wake of a challenging year for the cryptocurrency market, Coincover is in high demand as businesses and consumers strive to protect their digital assets. Through this new funding, we are able to empower our service for all customers existing and future ones, building a better and more mature ecosystem of digital assets in the process."
Charles Moldow, General Partner at Foundation Capital, added: "After a tumultuous year for digital assets, investing in Coincover was a no-brainer.
"The brand offers security in a fast-paced market. This new funding will accelerate recruitment, product upgrades and partnerships to safeguard the crypto ecosystem. With $3 billion stolen in hacks last year and 2023 set to see the arrival of the cryptographic regulation, the opportunity is huge."
