Samsung and Salesforce Ventures join Digital Asset's Series C funding round as Microsoft vet joins its board of directors

Digital Asset, the company behind the open-source DAML smart contract language, has secured investments from Salesforce Ventures and Samsung Venture Investment Corp in the second closing of its Series C funding round.

In Dec. 2019, Digital Asset raised $35 million in Series C funding from the Australian Securities Exchange (ASX), Jefferson River Capital, among others, bringing the company’s total fundraising to $150 million. 

According to a Tuesday press statement shared with The Block, Salesforce Ventures and Samsung Venture Investment Corp have recently joined the funding round. The new investments will be used to further DAML’s adoption across industries, expand DAML-enabled partner products, and fund new products that improve the developer experience, the company said.

Amid the fresh inflow of capital, the company is also making a new addition to its leadership team, onboarding former Microsoft corporate vice president Susan Hauster as a member of its board of directors. With almost three decades of work experience at Microsoft, Hauster will help Digital Asset analyze customer needs and develop go-to-market strategies. 

“We are going to see adoption of smart contracts — and languages like DAML — take-off in the near future,” she said in the press statement. "I look forward to lending my expertise and helping DA expand its go-to-market activities and transform entire industries with DAML, delivering innovation without compromising trust.”

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Yilun joined The Block in November 2019. She has a policy background and extensive experience in reporting and writing. She has worked on stories ranging from business to politics.