Securitize, Anchorage valuations revealed in document from one of crypto's biggest investors

Two well-known crypto startups garnered nine-figure valuations last year during their respective funding rounds, The Block has learned.

According to an investment pitch deck from Blockchain Capital and obtained by The Block, security token startup Securitize was valued at $100 million during its September 2019 funding round and custodial service Anchorage was valued at $180 million during its Series B funding round, which was announced in June of last year. The two firms were listed as case studies drawn from Blockchain Capital's portfolio companies. 

Anchorage raised a $40 million in its Series B, led by the industry investment firm. Securitize raised $15 million, with $2 million of that coming from Blockchain Capital. 

The valuations for Anchorage and Securitize offer a glimpse into which industry sectors – in this case, security token platforms and custody for crypto – are drawing big-name investors. 

To date, Securitize has raised $26.8 million in total known funding, attracting overseas investors such as Coinbase, Santander, Mitsubishi, and Nomura. Since November 2019, the firm has raised another two funding rounds from SBI Investment and Sony Financial Ventures, respectively, although the amounts involved were undisclosed. As such, the firm's valuation may now be higher given that they raised money since the round involving Blockchain Capital.

Anchorage raised eyebrows last summer as one of the few crypto-native firms to join the Facebook-led stablecoin project Libra. Anchorage has raised a total of $57 million from two rounds – backed by Visa, Polychain Capital, Paradigm, Andreessen Horowitz, and others – surpassing that of other custody solution vendors like Ledger or Curv.

Signs of health

As the deck shows, Anchorage stored around $600 million worth of digital assets under custody. 

"We're extremely proud of the progress we've made in the year since we launched Anchorage to the market. The details shared are a snapshot from last fall, and our growth has only continued to accelerate since then," Anchorage cofounder and president Diogo Monica told The Block.

In Q4 2019, the security token platform brought in $15.2 million worth of contracts. It has onboarded more than 55 clients to date, according to a source familiar with the matter. Securitize is also the platform that Blockchain Capital uses to launch and manage its BCAP security tokens.  

Securitize declined The Block's request for comments.