Covalent - About the company
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 1168 active competitors, including 207 funded and 30 that have exited. Its top competitors include companies like Consensys, Alchemy and IoTeX.
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
Investors
Ranked
51st among 1168 active competitors
Employee Count
39 as on Sep 30, 2026
Investment & Acquisitions
Legal entities associated with Covalent
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) | - | - |
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Covalent's funding and investors
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 31 institutional investors.
Here is the list of recent funding rounds of Covalent:
Filter this list
Filter this listDate of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Jun 26, 2024 | 9364447 | Series B | 5544722 | 1793652 | 3366014 | 8271863 |
Apr 30, 2021 | 4897073 | ICO | 8120632 | 1807328 | 8796695 | 3359969 |
Mar 24, 2021 | 8638388 | Series A | 8404980 | 5453034 |
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Covalent's founders and board of directors
Founder? Claim ProfileThe 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 39 employees as of Sep 26. Here is Covalent's employee count trend over the years:
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Covalent's Competitors and alternates
Top competitors of Covalent include Consensys, Alchemy and IoTeX. Here is the list of Top 10 competitors of Covalent, ranked by Tracxn score:
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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 | 80/100 | |
2nd |  Alchemy 2013, San Francisco (United States), Series C | Provider of complete blockchain developer platform | $564M | 78/100 | |
3rd | IoTeX 2017, Tortola (United Kingdom), Series A | Developer of blockchain infrastructure for real world artificial intelligence | $50M | 77/100 | |
4th | Digital Asset 2014, New York City (United States), Series F | Provider of Canton Network, the public blockchain with institutional-grade privacy for tokenized real-world assets | $817M | 72/100 | |
5th |  QuickNode 2017, Miami (United States), Series B | Node and Dapp infrastructure for blockchain | $106M | 71/100 | |
6th | Sui Foundation 2022, Cayman Islands, Funding Raised | Developer of Layer 1 blockchain and smart contract development platform | - | 67/100 | |
7th |  Helius 2022, Remote (United States), Series B | Provider of Solana RPCs, transaction landing services, and data streaming | $34.4M | 66/100 | |
8th |  Amberdata 2017, Palo Alto (United States), Acquired | Provider of data, analytics, and tools for digital asset management | $47.1M | 65/100 | |
9th | Cryptocurrency valuation and ranking website | - | 67/100 | ||
10th | Developer of blockchain infrastructure and digital asset management software applications | $70M | 63/100 | ||
51st | Developer of infrastructure providing unified data for artificial intelligence agents | $10.1M | 47/100 |
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Covalent's Investments and acquisitions
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 | 2019 | Berlin (Germany) | |
Sep 06, 2021 | Investments | 2019 | Vellore (India) | |
Dec 03, 2020 | Acquisition | 2018 | Vancouver (Canada) |
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Here is the latest report on Covalent's sector:
News related to Covalent
Filter this list•
Covalent integrates with Berachain to introduce modular data infrastructure to its ecosystem.ODAILY•Feb 12, 2025•Covalent
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Covalent Secures $5M Strategic Round Led by RockTree CapitalNftgators•Jun 26, 2024•Covalent, Rocktreecapital, CMCC Global, Moonrockcapital and 1 other
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Neon EVM Integrates with Covalent, Enhancing Data AccessibilityCrowdfund Insider•Jul 26, 2023•Neon, Covalent
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Covalenty attracts Iporanga and Domo with a plan to serve neighborhood pharmaciesFusoes & Aquisicoes•May 10, 2023•Covalent, Iporanga Ventures, DOMO, 1616 Ventures and 1 other
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Oasis Partners With Covalent To Bring Sapphire Data to Web3Smartliquidity•May 07, 2023•Oasis Protocol, Covalent
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Covalent Adds Interoperability L1 Flare To Its Data StackSmartliquidity•Mar 04, 2023•Covalent, Flare Networks
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Nexus leads $4.3 Mn seed round in CovvalentEntrackr•Nov 28, 2022•Covalent, Nexus Venture Partners, Covalent, Covalent Chemical and 1 other
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