Fireblocks reaches US$ 100M in annual revenue, achieves unicorn status
Blockchain security and crypto tech provider Fireblocks announced it has recorded over US$ 100 million in its 2022 Annual Recurring Revenue (ARR) in under five years. This achievement places Fireblocks among a rare category of SaaS unicorns, including Slack and Twilio.
AAR is the annual recurring revenue based on subscriptions to a company’s services over time.
Fireblocks’ success comes at a time when the demand for secure and easy to use platform for digital asset development is running high. The company caters to this demand among fintechs, Web3 startups, banks, and PSPs and offers MPC custody and treasury management technology to help them scale their digital asset products and enter the Web3 market.
Among its clients are the world’s most renowned instutions and startups, including BNP Paribas, Six Digital Exchange, ANZ Bank, FIS, Checkout.com, MoonPay, Animoca Brands, and Wirex. In 2022, 1,500 organizations have also deployed Fireblocks’ technology to enhance their products’ security and streamline crypto operations.
Fireblocks Co-founder and CEO, Michael Shaulov said that their services, MPC custody and treasury management technology in particular ‘has become one of the most fundamental pieces of infrastructure for the digital asset ecosystem.’
‘We will continue growing our secure and scalable product suites to meet this market demand and support every business joining the decentralized economy,’ he added.
MPC, or multi-party computation is a cryptographic technology that enables multiple-parties to hold their own private data and evaluate a computation in secret.
Treasury management technology is a secure storage for businesses to directly control their digital assets, connect to liquidity pools and transfer assets on-chain.