When was Covalent founded?

Covalent was founded in 2018 and raised its 1st funding round 2 years after it was founded.

Where is Covalent located?

Covalent is headquartered in Vancouver, Canada.

Who is the current CEO of Covalent?

Ganesh Swami of Covalent. They have also founded 1 company and are angel investors in 4 startups, including .

How many employees does Covalent have?

As of Jun 30, 2026, the latest employee count at Covalent is 47.

Is Covalent a funded company?

Covalent is a funded company, having raised a total of $10.1M across 4 funding rounds to date. The company's 1st funding round was a $***** Series A round, raised on Oct 07, 2020.

When was the latest funding round of Covalent?

Covalent's latest funding was a $***** Series B round on Jun 26, 2024, with participation from 4 investors.

Where does Covalent rank among its competitors?

Covalent ranks 59th amongst 1022 active competitors, of which 198 are funded. It stands 7th in terms of total funding among its competitors. The most recent competitor to raise funding was Digital Asset, which secured an undisclosed amount in Dec, 2025.

Who are the top competitors of Covalent?

Covalent's top competitors include Consensys, Alchemy and Digital Asset. Among them, Digital Asset secured the most recent funding round in December, 2025.

Covalent - 2026 Company Profile, Team, Funding & Competitors

Covalent is a series B company based in Vancouver (Canada), founded in 2018 by Ganesh Swami. It operates as a Developer of infrastructure providing unified data for artificial intelligence agents. Covalent has raised $10.1M in funding from investors like Rocktreecapital, Hashed and 1k(x). The company has 1022 active competitors, including 198 funded and 26 that have exited. Its top competitors include companies like Consensys, Alchemy and Digital Asset.

Company Details

Developer of infrastructure providing unified data for artificial intelligence agents. The company offers tools for building autonomous agents that can perform complex tasks. It provides structured onchain data through software development kits, application programming interfaces, user interface kits, decoders, and templates. The company also offers a platform for building and monetizing onchain applications.

Website: www.covalenthq.com/
Social
Email ID: *****@covalenthq.com

Key Metrics

Founded Year

2018

Location

Vancouver, Canada

Stage

Series B

Total Funding

$10.1M in 4 rounds

Latest Funding Round

Series B, Jun 26, 2024, $*****

Investors

Rocktreecapital & 29 more

Ranked

59^th among 1022 active competitors

Employee Count

47 as on Jun 30, 2026

Investment & Acquisitions

Matter Labs & 2 more

Similar Companies

Alchemy & 2621 more

View Covalent's full profile

Covalent is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
Covalent CIN: 40003956273 , Latvia, Deadpooled	Sep 19, 2007	€0 - €1M (As on Dec 31, 2014)	-	-

Covalent has raised a total funding of $10.1M over 4 rounds. Its first funding round was on Oct 07, 2020. Its latest funding round was a Series B round on Jun 26, 2024 for $*****. 4 investors participated in its latest round. Covalent has 30 institutional investors.

Here is the list of recent funding rounds of Covalent:

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Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Jun 26, 2024	8293358	Series B	1884769	2341539	8368634	1384997
Apr 30, 2021	3532786	ICO	5848129	2905084	2530156	4642265
Mar 24, 2021	3652924	Series A	1887740	2580115	Hashed	Hypersphere Ventures & 7 more

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View details of Covalent's funding rounds and investors

The founders of Covalent is Ganesh Swami. Ganesh Swami is the CEO of Covalent.

Here are the details of Covalent's key team members:

Ganesh Swami: Co-Founder & CEO of Covalent. They are also an angel investor in 4 startups.
Contact Info: 1 email address

View details of Covalent's Founder profiles and Board Members

Covalent's employee count trend

Covalent has 47 employees as of Jun 26. Here is Covalent's employee count trend over the years:

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Top competitors of Covalent include Consensys, Alchemy and Digital Asset. Here is the list of Top 10 competitors of Covalent, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Consensys 2014, Fort Worth (United States), Series D	Developer of blockchain and web3 software platform	$725M	Temasek, Think Investments & 57 others	81/100
2nd	Alchemy 2013, San Francisco (United States), Series C	Provider of complete blockchain developer platform	$564M	Silver Lake, Lightspeed Venture Partners ... & 33 others	78/100
3rd	Digital Asset 2014, New York City (United States), Series E	Provider of Canton Network, the public blockchain with institutional-grade privacy for tokenized real-world assets	$452M	Goldman Sachs, Australian Securities Exchange ... & 36 others	74/100
4th	Galxe 2021, San Mateo (United States), Series A	Web3 credential data network	$10M	Multicoin Capital, DRAGONFLY & 28 others	72/100
5th	Coin Metrics 2017, Boston (United States), Acquired	Crypto asset market and network data provider	$64.6M	Goldman Sachs, BNY & 24 others	69/100
6th	Helius 2022, Remote (United States), Series B	Provider of Solana RPCs, transaction landing services, and data streaming	$34.4M	Foundation Capital, Founders Fund & 10 others	67/100
7th	Sui Foundation 2022, Cayman Islands, Funding Raised	Developer of Layer 1 blockchain and smart contract development platform	-	No Limit Holdings, DNA Capital & 8 others	67/100
8th	CoinGecko 2014, Singapore (Singapore), Funding Raised	Cryptocurrency valuation and ranking website	-	Metaverse Capital, AZA Ventures	64/100
9th	Spydra 2021, Austin (United States), Seed	API driven Decentralization-as-a-Service platform	$1.86M	Logx Venture Partners, Singularity AMC & 4 others	61/100
10th	Blocknative 2018, San Francisco (United States), Series A	Developer of infrastructure and tools for blockchain transaction management and visibility	$34M	Blockchain Coinvestors, Hack VC & 20 others	60/100
59th	Covalent 2018, Vancouver (Canada), Series B	Developer of infrastructure providing unified data for artificial intelligence agents	$10.1M	Felicis Ventures, CMCC Global & 28 others	48/100

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Covalent has made 2 investments in Matter Labs and BitsCrunch and acquired Byzantine Labs.

Here is the list of these investments and acquisitions:

Date of Investment/Acquisition	Type	Company Name	Founded Year	Location
Nov 08, 2021	Investments	Matter Labs	2019	Berlin (Germany)
Sep 06, 2021	Investments	BitsCrunch	2019	Vellore (India)
Dec 03, 2020	Acquisition	Byzantine Labs	2018	Vancouver (Canada)