BitGo

BitGo

Secure custody and management of digital assets

About BitGo

Simplify's Rating
Why BitGo is rated
A-
Rated B on Competitive Edge
Rated A on Growth Potential
Rated A on Rating Differentiation

Industries

Crypto & Web3

Financial Services

Company Size

201-500

Company Stage

Series C

Total Funding

$170.5M

Headquarters

Palo Alto, California

Founded

2013

Overview

BitGo provides secure and efficient solutions for institutional clients in the digital currency market, focusing on cryptocurrencies like Bitcoin. The company offers custodial services to securely store digital assets, multi-signature wallets that require multiple approvals for transactions, and APIs that allow clients to integrate these services into their platforms. BitGo also provides staking services, enabling clients to earn rewards by validating transactions on blockchain networks. Unlike many competitors, BitGo emphasizes compliance with regulatory requirements, such as the FATF Travel Rule, ensuring that clients can navigate the complexities of the digital currency market safely. The goal of BitGo is to support institutional investors by offering essential services that enhance security and compliance in managing digital assets.

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Simplify's Take

What believers are saying

  • Partnerships with firms like EDX Markets boost institutional adoption of digital assets.
  • Integration with Polymesh expands BitGo's reach in asset tokenization.
  • Lightning Network integration enhances BitGo's service offerings for fast transactions.

What critics are saying

  • Emerging digital asset custody providers may erode BitGo's market share.
  • Rapid blockchain evolution could challenge BitGo's infrastructure capabilities.
  • Regulatory scrutiny may increase compliance costs for BitGo.

What makes BitGo unique

  • BitGo offers multi-signature wallets, enhancing security for institutional clients.
  • The company provides APIs for seamless integration with client platforms.
  • BitGo's strategic acquisitions, like Lumina and Hedge, expand its service offerings.

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Funding

Total Funding

$170.5M

Above

Industry Average

Funded Over

3 Rounds

Notable Investors:
Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.
Series C Funding Comparison
Above Average

Industry standards

$50M
$50M
Medium
$62M
SeatGeek
$100M
Oura
$100M
BitGo

Benefits

Company-paid medical, dental, and vision plans

Catered lunches, fresh snacks, and gourmet coffee

Commuting made easy with company-paid Caltrain passes

Competitive compensation, stock options, and 401k plan

Computer equipment and workplace furniture

Flexible vacation time

Growth & Insights and Company News

Headcount

6 month growth

-9%

1 year growth

0%

2 year growth

-9%
Finance Feeds
Apr 10th, 2025
BitGo and Polymesh to Advance Real-World Asset Tokenization

BitGo will integrate its custody services with the Polymesh blockchain, enabling institutions to access tokenized asset infrastructure while maintaining separation between custody and exchange.

Asset Servicing Times
Apr 9th, 2025
EDX Markets and BitGo partner

EDX Markets has partnered with BitGo Trust Company with the aim of strengthening the institutional adoption of digital assets.

Lightning News
Apr 8th, 2025
BitGo and Voltage Forge Partnership: Introducing Bitcoin Payments with Lightning Network Integration

Institutional Security Meets Lightning Speed: BitGo's multi-signature cold storage, trusted by over 2,000 global clients, now integrates seamlessly with Voltage's high-performance Lightning infrastructure.

Decrypt
Mar 18th, 2025
What Is A Multi-Sig Wallet? A Beginner’S Guide

Decrypt’s Art, Fashion, and Entertainment Hub. Discover SCENEImagine managing a million-dollar investment fund stored in a cryptocurrency wallet. Everything runs smoothly until a single mistake—clicking a phishing link, visiting a malicious website, or falling victim to an undiscovered exploit—allows hackers to drain the wallet. Just like that, the assets are gone forever.This nightmare scenario has played out in several high-profile crypto thefts, including the Japan-based exchange Coincheck in 2018, the Ronin Network in 2022, and most recently, the Bybit exchange in February 2025. While the causes of these breaches varied—ranging from private key compromises to smart contract exploits—they all underscore the importance of multiple security layers in Web3.One of these protections is the so-called “multi-sig wallet,” which requires more than one person’s signature, via their private key, to authorize a crypto transaction.A cryptocurrency wallet lets users store, send, and receive crypto by managing their private and public keys. When making a transaction, the user, via the wallet, signs it with a private key, proving ownership before broadcasting it to the blockchain for validation

Gadgets 360
Mar 12th, 2025
WazirX Partners With BitGo for Asset Custody Services Amid Ongoing Financial Restructuring

WazirX announced on Wednesday, March 12 that it has partnered with BitGo Trust Company for asset custody services.

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