Liberty City Ventures backs Solidus Labs in $45m round

Solidus Labs, a provider of crypto-native risk monitoring and market surveillance, has raised $45m in Series B funding led by Liberty City Ventures.

The round also saw participation from Evolution Equity Partners which led Solidus’ A-series funding in May 2021, Declaration Partners, Hanaco Ventures, and Avon Ventures, a venture capital fund affiliated with FMR LLC, the parent company of Fidelity Investments.

Angel investor Brian Brooks, former US Acting Comptroller of the Currency, also participated as well as Plural Ventures, and former New York State Department of Financial Services executive deputy superintendent Matthew Homer.

Solidus Labs focusses on addressing crypto market integrity. In light of mounting regulatory and public pressure to protect users and investors and improve market integrity standards and investor protection in digital asset markets, Solidus reports massive demand for its solutions, and has more than quadrupled its team since the beginning of 2021.

In March 2022, the firm unveiled its all-in-one crypto-native risk monitoring suite – titled HALO – built from the ground up to address the new challenges presented by crypto and DeFi and enable institutional and mainstream adoption. HALO currently services dozens of leading crypto and DeFi platforms, financial institutions and regulators, monitoring more than 1 trillion trading events per day in more than 150 markets and protecting upwards of 25 million crypto market participants and investors.

The platform deploys over 50 different proprietary market abuse typologies, shielding investors and safeguarding crypto businesses from new threats unique to the crypto and decentralised finance space.

Asaf Meir, Solidus’ founder and chief executive, said, “For Web3 and the DeFi economy to truly fulfil their massive potential, there’s a need to mitigate new risks – both in terms of liquidity enablement and on the consumer and investor protection side. This is where Solidus’ crypto-native solutions come into play, and the reason we’ve been experiencing a 560% year-over-year revenue increase.

“The additional funds will allow us to support the growing cohort of financial institutions looking to expand into the DeFi space, accelerate the deployment of our threat intelligence capabilities, and expand our R&D to solve a fast-growing array of DeFi specific use-cases and needs.”

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