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Squads - Strategic
Overview
Funding Date
October 16, 2023
Financing amount
$5.7M
Valuation
--
Catagory
About Squads - Strategic
Squads Labs, the main developer of Solana-based multisig protocol Squads, has raised $5.7 million in a strategic funding round.
The round was led by Placeholder VC, with participation from Multicoin Capital, Solana Ventures, Jump Crypto and others, Squads Labs said Monday. Angel investors including Anatoly Yakovenko, co-founder of Solana Labs; Lucas Bruder, CEO of Jito Labs; and Mert Mumtaz, CEO of Helius Labs, also backed the round. This was an equity with token warrants round.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | United States of America | 2017 | 43 | -- | ||
| Fund | United States of America | 2017 | 111 | hello@multicoin.capital | ||
| Fund | -- | 2021 | 99 | -- | ||
| Fund | Unknown | -- | 84 | -- | ||
| Angel Investor | -- | -- | 26 | -- | ||
| Angel Investor | Unknown | -- | 3 | -- | ||
| Angel Investor | Canada | -- | 8 | -- |
Founders & Team
Deni Ershtukaev
Sean Ganser
Stepan Simkin
Company Profile / Project Introduction
Squads is the leading multisig solution on Solana, used by the largest teams and protocols to secure their on-chain assets. Built with an intuitive UX, slick design, security and self custody in mind. Squads can be seen as a competitor to custody firms such as Fireblocks and Copper, but Squads' biggest competitive edge is its smart contract wallet system, which, as opposed to multi-party computation, exists fully on-chain and is fully transparent and immutable. Squads Labs also offers a web app comprising SquadsX and Squads Pro products. Squads web app is built on top of Squads protocol that helps crypto firms manage their developer and treasury assets via multisig.