Covalent

About

Covalent is design to address a problem that is frequently overlooked: read-scalability.

Vancouver,British Columbia,Canada
51 - 100
https://www.covalenthq.com/

Highlights

Details

Last Funding Type: Seed
Industries: Blockchain,Cryptocurrency,Data Integration,Data Visualization,Database,Developer APIs,Ethereum,FinTech,Information Technology,Software
Founded date: Mar 1, 2018
Number Of Employee: 51 - 100
Operating Status: Active
Also Known As: Covalent Unified API

Covalent is set out to solve a problem that’s often overlooked: the read-scalability problem. The blockchains are designed for transaction and settlement throughput while reading from blockchain nodes is difficult. Covalent’s thesis is that by solving read-scalability, we would enable use-cases that were as of then unknown. Covalent further took the solution up a notch by introducing a normalized data model and exposing it behind a Unified API.
Covalent Unified API now supports 32 blockchains (still growing), 1000+ applications and over 27,000 developers.

Funding Rounds

Number of Funding Rounds

Total Funding Amount

6

$5.10M

Covalent has raised a total of $5.10M in funding over 2 rounds. Their latest funding was raised on Apr 30, 2021 from a Funding Round round.

Announced Date	Round	Money Raised	Number of Investors	Lead Investors	Post Valuation
Apr 30, 2021	Funding Round	—	1	—	—	Detail
Mar 24, 2021	Series Unknown	$2M	13	Hashed	—	Detail
Oct 11, 2020	Seed	—	1	—	—	Detail
Oct 7, 2020	Series Unknown	$3.10M	6	1kx Woodstock Fund	—	Detail
Jun 3, 2020	Non-Equity Assistant	—	2	—	—	Detail

Investors

Number of Lead Investors

Number of Investors

4

24

Covalent is funded by 24 investors. Hashed and 1kx are the most recent investors.

Investor Name	Lead Investor	Funding Round
Hashed	Yes	Series Unknown
1kx	Yes	Series Unknown
Woodstock Fund	Yes	Series Unknown
Victory Square	Yes	Pre-seed
High Naut Capital	—	Funding Round
Coinbase Ventures	—	Series Unknown
Figment	—	Series Unknown
Ankr	—	Series Unknown
Avalanche	—	Series Unknown
Binance Labs	—	Series Unknown