An exciting milestone: Announcing our $17M Series A to expand our staking offering
< Blog
At Kiln, we are very proud of what we have already accomplished and excited to continue building the future of staking. That’s why I’m honored to announce today that we have completed a $17 million Series A funding round. This is led by Illuminate Financial, with participation from GSR, Kraken Ventures, Consensys, Leadblock Partners, Sparkle Ventures, XBTO, and previous investors 3KVC, Alven, Blue Yard and SV Angel among others. The news has been relayed in outlets such as The Block.
Kiln believes that the staking market is becoming institutionalized and must move beyond running validators to meet the growing customer need to spread risk. This means creating validator-agnostic APIs and services to enable multi-provider staking. This in turn enables digital assets to be staked wherever they are held, for wallets, custodians, and exchanges. As the industry evolves, and the need to integrate multiple staking players proves real, Kiln is in an ideal position to play the role of aggregator and accelerate it.
But first, thank you!
I would like to thank our existing and new investors for their partnership and faith in us. The Kiln team couldn't be more excited about this next stage of building world-class infrastructure.
Two years ago, we launched our first validators. Since then we’ve talked to thousands of institutions to understand their needs and improve our offering as a result. Now, we are not only running validators but have developed a full range of products dedicated to staking. We maintain a core focus on providing technology through a simple and validator-agnostic staking stack. This includes:
- Kiln Connect, which provides a single SDK for the integration of staking, rewards data, and your custodian on all major PoS blockchains
- Kiln On-Chain, which provides smart contracts for seamless ETH staking & automated rewards management
- Kiln Dashboard, which provides a 1-click staking dashboard, administration interface, rewards/ data reporting and data exporting
- Kiln Validators, which is a suite of dedicated or shared validators, with enterprise-grade SLAs, deployed on our multi-cloud Kubernetes infrastructure
We can’t thank you enough for your trust in us and your valuable feedback. Kiln would have never evolved as much without our amazing customers, such as Alluvial, Binance US, Ledger, and GSR just to name a few of them, using our products.
Huge thanks to our fantastic contributors behind the scenes, especially our brilliant tech & go-to-market teams, for building, testing, monitoring tirelessly and selling our solutions. I am so proud of what we are achieving together in such a short space of time.
What’s next now?
This funding round will enable us to consolidate our world-class staking platform so Kiln can act as the bridge aggregating existing staking suites of products. At Kiln our mission is to make staking seamless and secure from our dashboard, a hardware wallet, a browser wallet, a B2B custodian, a crypto exchange or an investment app. So that institutions and retail users worldwide can secure the network and be rewarded for it.
It will also allow us to add new products, protocols and functionalities. For instance, we are working on a very new and exciting feature for Kiln On-Chain enabling staking any amount of ETH.
Most importantly we’ll continue to expand our team so that we can accelerate the adoption of these new products and grow geographically.
For now, here are three things that may be of interest to you:
- We’re helping institutions to stake their assets and offer staking to their users. Please reach out if you need support!
- We’re hiring to help us build the future of staking, check our latest job offers if you are interested.
- In case of any feedback or inquiries we are always happy to meet you online or in person.
Thanks for reading, we are looking forward to building this next chapter together.
Laszlo
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