Crypto Heidi: Blockdaemon: We Build Enterprise Tools to Create, Manage, and Scale Blockchain Applications
Blockdaemon is the simplest and fastest way to spin up nodes on private and public blockchains and scale decentralized applications.
Who are you?
We're Arunram Kalaiselvan and Konstantin Richter, the co-founders of Blockdaemon, a service infrastructure provider, we are a decentralization as a service. We make sure that the underlying infrastructure protocols operate on is decentralized across Amazon, Google, Azure, Digital Ocean, our own infrastructure. So projects like, for example, EOS, who currently have every node run on Amazon can manage the distribution of the network, right? And so we provide really scalability and security on the infrastructure level. And then we also support all the major protocols, so we work with Bitcoin and Ethereum, Stella, quantum, etc, etc. and make it very easy for people to deploy chains.
We're live and we're a venture-backed company.
When did you get it started? Your background? Where are you now? In 6 months? The next year?
We started this business a year ago. We've done well in terms of we identify the problems with infrastructure and scalability of blockchain fairly early around and I were working on another project. We're in the crypto space for a while. We're just really fascinated by the absence of tooling to actually run a blockchain network efficiently. And so in the cloud space, there's a lot of great companies providing great services to help you do that, but none in the blockchain.
We went to join an accelerator and close the seed round, we only took money from Cloud and infrastructure investors. We have 10 customers,20 people team from LA, Ireland, and in New York.
In general, they're going toward some more enterprise ecosystem, trying to build kind of level three applications around data aggregation, audit, and all that sort of stuff, while also providing the underlying infrastructure, essentially.
How Much did you raise?
3.7 million USD.
Now, everyone is doing the $20 million seed round at a 200 million valuation, which is ridiculous. And so we've been much more in the normal convertible debt, 5 million valuations and then building on top of that, right, so where we fit much more traditionally in the venture world.
What is the most challenging thing for you guys right now, since you guys are due to equity, and the last year, you know, like that was really attractive, right? But this year kind of crash, does that affect you?
So we look at a very reasonable like, we have metrics, we have revenue customers, we have product build. And so I think fast but the interesting thing is that we have a lot of VCs who weren't able to participate in token sales come and look for blockchain investments and so we have zero capital scarcity you know, I would say we're always heavily oversubscribed and mainly because, you know, where we have very professional investors and that comes with a great network. So once you have a great VC on deck, they will bring others to you.
What’s your pricing model.
We charge per node per month. And it's a subscription. So a SaaS model, which, you know, it's easily manageable and trackable for investment and capitalization purposes. Then we have simple configuration fees. Some of it might be a little bespoke because we're so early, but we're trying to keep it all self-provisioning as well. So ideally, people, you know, we onboard a protocol, configure a node, and then people can just go online, click a button, and then there are different degrees of notes, depending on the availability grade. So they can range from $14.99 a month to $999 a month based on the price range.
What are you going to get out of today?
We like BTC media, we worked with them a lot, and we've worked with them across multiple different projects. I think it's the best conference in terms of seniority slash slice, you know, I think it's relatively small, but has a really good level of attendance. So, networking, building awareness, one of the things we haven't done is we are busy building code where builders market two years so because we have product and customers, we feel we go and little unnoticed sometimes in the market, not on the investment side, but actually people being aware of us. And so we're trying to build awareness. I want to say the best thing yesterday this happened to your block team and your notice services.
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