Blockchain startup Digital Asset has seen participation from Salesforce Ventures and Samsung Venture Investment in its second Series C funding round, the company said in a press release on 4 February.
The first Series C funding round that Digital Asset had ended in December 2019, with the company gathering around $35 million in funding. The newly gathered capital will be used to further the adoption of the company’s smart contract modelling language, fund new DAML development products and DAML-enabled partner products.
The Co-Founder and CEO of Digital Asset, Yuval Rooz, said in a statement:
“Salesforce Ventures and Samsung joining our Series C financing round demonstrates the potential that technology giants see in DAML as the standard for smart contracts.”
DAML, or the Digital Asset Modeling Language, is the company’s open-source product, which was first released in April 2019. Though different in terms of private execution, the product acts a lot like smart contract coding, as it is used for the creation of smart contracts, and to digitally verify and enforce agreements between two or more entities.
The press release further announced that Susan Hauser, a technology veteran with 28 years of experience at Microsoft, has joined Digital Asset’s board of directors. During some of her time in Microsoft, Hauser acted as the Corporate Vice President of Microsoft’s Worldwide Enterprise & Partner Group. Before she joined Digital Asset’s board of directors, Hauser had already served as the company’s advisor. She said in a statement:
“During my time as an advisor to Digital Asset, I quickly learned how transformative smart contracts could be for a variety of use cases and across industries. We are going to see adoption of smart contracts — and languages like DAML — take-off in the near future.”