CB Insights today named Data Gumbo, the trusted industrial blockchain company and provider of GumboNet™, the company’s massively interconnected blockchain network, to its inaugural Blockchain 50 ranking, a list of the top private companies applying or analyzing blockchain technology to solve business or consumer problems across various industries.
Developed in partnership with Blockdata, a blockchain intelligence and data company that was acquired by CB Insights, the 2020 Blockchain 50 cohort includes companies from all around the globe across varying investment stages of development, from early-stage startups to well-funded unicorns. Combined, these companies have raised over $3B across 113 deals since 2017.
“Blockchain moved from possible to practical in 2020 as evidenced by the enterprise adoption we tracked. At the same time, the blockchain company ecosystem also became more crowded, creating noise and uncertainty for enterprises as they evaluate vendors and partners. The Blockchain 50, which we’ve created in conjunction with Blockdata, was born out of a desire to reduce that uncertainty and recognize the pioneering companies using the blockchain,” said CB Insights CEO Anand Sanwal. “This inaugural class of the Blockchain 50 is tackling a range of use cases across trade finance, capital markets, exchanges and more and are being used by banks, governments and major retailers. We’re excited to see the impact the Blockchain 50 will have on industries as their solutions are deployed and to see the continued evolution of blockchain technology as it matures.”
“Being named to this CB Insights’ list is an honor and testament to the power of Data Gumbo’s blockchain network GumboNet,” said Andrew Bruce, CEO and Founder, Data Gumbo. “Our smart contracts enable companies to leverage blockchain technology across the global business infrastructure to capture critical cost savings and value, forging a new foundation for commercial transactions: one based on trust, transparency, speed and visibility.”
Through an evidence-based approach, the CB Insights research team, in collaboration with Blockdata, selected the Blockchain 50 from thousands of applications and nominees, based on factors including patent activity, business relations, investor profiles, news sentiment analysis, proprietary Mosaic scores, market potential, competitive landscape, team strength, and tech novelty.
The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies to help predict a company’s momentum.
With escalating market traction, Data Gumbo is wrapping a landmark year complete with strategic new hires; international office expansions; strong customer adoption for smart contract and payment execution and automation, execution by several leading national oil companies, oil and gas operators, geothermal drilling, supply chain and logistics companies across energy and construction, as well as significant industry partnerships that showcase market penetration in asset-heavy industries further positioning the company for success in driving transactional certainty, economic productivity and value for major industrial players.
Quick facts on the 2020 Blockchain 50:
- The 2020 Blockchain 50 companies have raised over $3B in aggregate equity funding across 110+ deals since 2017.
- The list includes five unicorns (companies valued at or above $1B) — Bitmain, Bitfury, Coinbase, Chainalysis, and Digital Currency Group.
- While the majority of the companies are based in North America, 40% of the 2020 Blockchain 50 winners are based outside the United States, in countries such as the United Kingdom and Switzerland.
- Blockchain Capital, Castle Island Ventures, Kinetic Capital, Pantera Capital, and Valar Ventures are the most active venture investors in the Blockchain 50, with 5 investments each since 2017.
- Since 2017, corporate venture capital firms Digital Currency Group, Galaxy Digital, and ConsenSys Ventures have struck 13, 12, and 7 deals with the cohort, respectively.
About CB Insights
At CB Insights, we believe the most complex strategic business questions are best answered with facts. We are a machine intelligence company that synthesizes, analyzes and visualizes millions of documents to give our clients fast, fact-based insights. Serving the majority of the Fortune 100, we give companies the power to make better decisions, take control of their own future, and capitalize on change.
About Data Gumbo
Data Gumbo provides transactional certainty for tomorrow’s industrial leaders through GumboNet™, a massively interconnected industrial blockchain network. With integrated real-time capabilities that power, automate and execute smart contracts, our network reduces contract leakage, frees up working capital, enables real-time cash and financial management and delivers provenance with unprecedented speed, accuracy, visibility and transparency. Headquartered in Houston, Texas, Data Gumbo has a subsidiary office in Stavanger, Norway and in London, UK. To date, the company has received equity funding with Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco, and Equinor Technology Ventures, the venture subsidiary of Equinor, Norway’s leading energy operator. For more information, visit www.datagumbo.com or follow on LinkedIn, @DataGumbo and Facebook.