Samsung & Salesforce Invest In Blockchain Company Digital Asset

Digital Asset, the creators of the open source DAML smart contract language, announced today that Salesforce Ventures and Samsung Venture Investment Corp (Samsung) participated in the second closing of the company’s Series C financing round. The initial $35 million closing was announced last December.

Salesforce Ventures and Samsung join other leading technology companies in the latest round of financing. Funds will be used to accelerate the adoption of the DAML smart contract language across multiple industries, expand the number and variety of DAML-enabled partner products and fund new products designed to enhance the DAML developer experience.

The company also announced that Susan Hauser, a 28-year Microsoft veteran and advisor to Digital Asset, has been appointed to the company’s board of directors. Hauser served as Corporate Vice President of Microsoft’s Worldwide Enterprise & Partner Group where she was responsible for the commercial sector, government sector and enterprise partnerships globally, including key vertical industries such as healthcare, education, retail, manufacturing, and financial services.

DAML is a next-generation smart contract language that Digital Asset open-sourced in 2019. It is used to create smart contracts, or computer programs that automate business processes and digitally verify and enforce agreements between two or more entities. Digital Asset provides commercial integrations of DAML with partner platforms so that a variety of organizations — from the largest enterprises to technology start-ups — can develop secure, sophisticated, compliant, and operationally solid applications faster.

Digital Asset’s business model is to partner with technology providers and embed the DAML smart contract runtime within their product offerings. In April 2019, the company announced a partnership with VMware to integrate DAML with VMware Blockchain. Subsequently, further integrations with Hyperledger Sawtooth, Hyperledger Fabric, Corda, Amazon’s QLDB and cloud-native Aurora database have been announced, many of which are commercially supported through Blockchain Technology Partners’ Sextant for DAML platform.

Samsung Venture Investment Corp invests in future-oriented businesses based on new and innovative technologies that are expected to serve as new growth engines. As of last March, SVIC had over USD 2.2 billion in assets under management. “We strongly believe that Digital Asset’s model to embed DAML in partner platforms fundamentally changes the entire blockchain market,” said a spokesperson from Samsung Venture Investment Corp. “Digital Asset has positioned itself for success in the blockchain space and we are pleased to help it achieve its vision.”

Salesforce Ventures, the global investment arm of Salesforce, invests in the next generation of enterprise technology that extends the power of the Salesforce Platform. Salesforce Ventures has helped accelerate the growth of more than 375 companies since 2009.

 

 

 

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