CB Insights publishes top 50 Blockchain companies

CB Insights publishes top 50 Blockchain companies

CB insights published its top 50 blockchain companies for the year 2020. According to CB Insights the Blockchain 50 is their first-ever ranking of the 50 most promising companies within the blockchain ecosystem. As mentioned in their press release, "this year's winners are tackling consumer and enterprise use cases across payments, remittances, asset provenance, compliance, and more. This list was created in collaboration with BlockData." 

The 2020 Blockchain 50 cohort has raised over $3B in aggregate equity funding across 113 deals since 2017, and includes companies across varying investment stages of development, from early-stage startups to well-funded unicorns.

The releases adds, "We selected winners from a pool of 2,700 companies, including applicants and nominees, based on factors including business models, market potential and momentum, competitive landscape, team strength, investor profiles, data submitted by the companies, and Mosaic scores — CB Insights’ proprietary algorithm that measures the overall health and growth potential of private companies.Our analysis focused exclusively on private companies that have raised equity funding. In particular, we looked at companies such as R3, BitGo, Chainalysis, and Coin Metrics, which have displayed success in achieving or building a path to commercial adoption." 

As per the authors of report they did not include the many open-source projects — such as Bitcoin and Ethereum — that serve as critical infrastructure for many of this year’s selections and the blockchain ecosystem as a whole. 

The report Highlights that five out of the 50 winners are unicorns valued at 1billion USD or above since their latest funding rounds. Most of these are in mining, hardware, and software with names such as  Bitmain, Bitfury, cryptocurrency exchange Coinbase, blockchain analytics software chainalysis, and blockchain conglomerate Digital Currency Gorup.

In terms of funding trends since 2019 the cohott has raises 1.1 billion USD in equity funding  across 44 deals (as of 12/7/20). Thirty-four of these companies raised funds during this period. As for global representation, 40% of the 2020 Blockchain 50 winners are based outside the US. After the US, the UK and Switzerland are home to the most Blockchain 50 companies, with 4 each.

Below are some of the top VC investrs, corporate VC, as per the report. 

  •  Top VC investors include Blockchain Capital, Castle Island Ventures, Kenetic Capital, Pantera Capital and Valar Ventures are the most active venture investors in the Blockchain 50 with 5 investments each since 2017.
  • Top corporate VCs: The Blockchain 50 winners have attracted even more investments from corporate venture capital investors than from traditional investors. Since 2017, corporate VCs Digital Currency Group, Galaxy Digital, Consensys Ventures have struck 13, 12, and 7 deals with the cohort, respectively.
  • Top deal of 2020: Digital asset management platform Bakkt raised a $300M Series B in March 2020 with participation from investors including The Boston Consulting Group, Intercontinental Exchange, Microsoft’s M12, and Pantera Capital.
  • Most well-funded company: Coinbase is the most well-funded company on the Blockchain 50 list, having raised $539M in disclosed equity funding across 12 rounds since 2012.

 

Source: CB Insights
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