Sioux Falls' BitGo Eyes Expansion After Past $15M Series B Boost

SIOUX FALLS, S.D. — BitGo Inc., headquartered at 110 N. Minnesota Ave. in downtown Sioux Falls, solidified its position as a leader in digital asset infrastructure with a $15 million boost to its Series B funding round in October 2018. Led by Goldman Sachs and Galaxy Digital founder Michael Novogratz, the funding propelled BitGo's growth in securing Bitcoin transactions and custody services.[4][5] The Sioux Falls address, a hub for fintech amid South Dakota's business-friendly regulations, underscores the company's roots in the state. Fast-forward to recent years, BitGo raised $100 million in an August 2023 Series C round at a $1.75 billion valuation, with shares priced at $16.05 each. The firm now secures approximately 20% of all on-chain Bitcoin transactions by value and custodians over $100 billion in digital assets, making it the largest independent player in the space.[4] This trajectory highlights Sioux Falls' emergence as a fintech destination, leveraging low taxes and regulatory clarity to attract firms like BitGo. While no new $15 million Series B was announced in 2026 matching initial reports, BitGo's legacy funding rounds have driven local economic impact through jobs and innovation. The company's presence bolsters South Dakota's tech ecosystem, alongside entities like those at the nearby Sanford Health innovations and the city's push for capital investments exceeding $1 billion through 2030.[6] Local leaders credit such firms for positioning Sioux Falls as a Midwest tech contender amid national venture capital shifts.