PRIVATE · MPC CUSTODY

Fireblocks

Fireblocks sells the lock, the policy, and the network institutions use when they refuse to hold a seed phrase on a laptop.

You are deciding whether to take illiquid equity in the category leader of institutional wallet infrastructure, four years after its last disclosed valuation, in a London building seat rather than a research seat.

The company you would actually join

Blockchain Lab analysis

Public reporting and the employer’s own releases. Not a relationship with Blockchain Lab. Not a credit opinion.

Founded: 2018, in Israel. Headquarters now New York.
Base: New York, with a London role on this desk. The product is global; the entity that employs you may not be.
Status: Private. No banking charter of the Anchorage type. Revenue is not disclosed.
People: PitchBook listed about 966 employees. Treat that as a database estimate, not a payroll file.

Fireblocks won the institutional wallet because it sold a control system, not a key. Policy, quorum, and a network of counterparties are the product a bank can show an examiner. The Series E in January 2022 priced that lead at $8 billion, on $550 million of new money, after a Series D six months earlier at $2 billion. The company has not published a new priced round since. PitchBook's undated-amount 2024 and 2026 entries say capital may have moved. They do not say the $8 billion mark was refreshed.

A September 2026 model on DefiLlama marked the company near $2.64 billion. Use it only as a warning that secondary opinion and the last round have diverged. Your option strike, if you receive one, will be set by the board, not by that model, and you may not be able to sell it. Ask what the last 409A or board mark was. They may not tell you. The silence is information.

The company has been buying. PitchBook records an acquisition of Dynamic in October 2025 and of Tres Finance in January 2026. Sacra describes a stablecoin payments network launched in September 2025. The surface area a London full-stack engineer inherits is wider than 'sign a transaction': routing, protection, issuance, and other teams' products that now have to feel like one console. Revenue remains unpublished. Headcount near a thousand, if the database is even roughly right, means this is a scale-up with process, not a twelve-person lab.

Founders

Michael Shaulov

Co-founder and CEO

Israeli founder. Previously founded Lacoon Mobile Security, later acquired by Check Point, and is widely described as a former member of Unit 8200. The company's culture is security-engineering first, exchange-product second.

Idan Ofrat

Co-founder and CTO

The technical co-founder behind the MPC and enclave design. A full-stack engineer on the blockchain access path is downstream of this architecture, not beside it.

Pavel Berengoltz

Co-founder

The third founder, associated with product and systems leadership. Three-founder Israeli security companies tend to keep a high bar on threat models and a low tolerance for demo-ware. Expect that.

What the company sells

MPC wallet platform

Key shares split across enclaves so no single machine holds a signing key. The policy engine sits in hardware isolation (SGX, Nitro) and decides what a transaction is allowed to be.

Network

A connectivity layer among institutions. Sacra describes on the order of 2,000 counterparties. That number is a profile's, not a figure we re-counted.

Tokens and payments

Issuance across many chains, and a stablecoin payments network Sacra dates to September 2025. The London full-stack seat is on the path users walk to reach those chains.

Capital

Last priced round

$8 billion

January 2022. Four and a half years old.

Capital raised

About $1.04 billion

Sacra and CB Insights agree on the total. Round-by-round sums above are the disclosed ones.

2026 model mark

About $2.64 billion

DefiLlama estimate as of 21 Sep 2026. A model, not a round. The gap to $8 billion is the point.

Revenue

Not disclosed

Private. CB Insights has hinted at historical revenue behind a paywall. We will not guess.

Jun 2019
Series A
$16 million
DefiLlama funding table, as of 5 Oct 2026.
Nov 2020
Series B
$30 million
Same table. Valuation not disclosed there.
Mar 2021
Series C
$133 million at about $850 million
The first clearly priced step into unicorn territory.
Jul 2021
Series D
$310 million at about $2 billion
Six months from C to D. The category was repriced in a single cycle.
Jan 2022
Series E
$550 million at $8 billion
Co-led by D1 Capital and Spark. Sequoia, Coatue, Ribbit, and Paradigm were among the names on the round. Earlier books include Index, General Atlantic, CapitalG, and BNY Mellon.
May 2024 and Jan 2026
Later-stage VC, amounts undisclosed
Not disclosed
PitchBook records completed later-stage deals on 19 May 2024 and 1 Jan 2026, with no public amount or valuation. Do not invent a new post-money from silence.

What should change your mind

Valuation gap. An $8 billion headline and a much lower third-party mark cannot both be your mental model.
No charter. Competitors with a trust or bank charter have a regulatory asset Fireblocks has not matched. That can matter the day a bank procurement team scores vendors.
Illiquid equity and undisclosed revenue. You cannot underwrite the grant.
Acquisition digestion. Two bought companies in five months changes the codebase you join.

Ask them

What is the current board valuation, and is there a tender?
Which product does this London seat ship in the next two quarters: network, policy, tokenization, or payments?
Who is the UK employing entity, and is sponsorship offered? The posting says London. It does not say visa.
How are Dynamic and Tres being folded into the console this role touches?

Sources

If a figure is not in those sources, it is not in this brief on purpose.

Open roles on this desk

Full Stack Engineer, Blockchain
A London full-stack seat on the access path: the screens and services institutions use to reach a chain without holding the key.
London · board 2026-10-01