Web3 security company Blockaid secured venture capital.

What Happened: The Tel Aviv-based startup raised $27 million in Series A funding led by Coinbase investor Ribbit Capital and early-stage venture capital firm Variant.

Cyberstarts, Sequoia Capital, and Greylock Partners reportedly participated in the funding round.

The capital will be used to enhance product offerings, and customer base and handle the industry’s constantly evolving security challenges.

Why It Matters: In the past three months, Blockaid scanned a total of 450 million transactions, prevented 1.2 million malicious transactions, and safeguarded $500 million in user funds that would have otherwise been lost.

In its recent…

Read more on Benzinga