Covalent
Covalent, founded in 2018, operates GoldRush, a unified API delivering structured, verifiable blockchain data across 100+ chains to wallets, DeFi, tax platforms, and AI agents via a decentralized network secured by the CXT token.
- Company typePrivate
- Founded2018
- HeadquartersVancouver, Canada
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Covalent does
Covalent is a modular blockchain data infrastructure company founded in 2018 and headquartered in Vancouver, Canada, operating a decentralized network that delivers verifiable, structured onchain data across 100+ blockchains (230+ per the tokenomics documentation) at sub-second indexing speeds. The core product, GoldRush (rebranded from the Unified API in July 2024), is a unified REST and WebSocket API that normalizes wallet balances, transactions, token transfers, NFT data, DeFi swaps, OHLCV candles, and cross-chain bridge events into a single schema. Underlying the API is a three-tier data architecture: Bronze stores raw blockchain data losslessly from genesis, Silver applies ABI decoding, token metadata resolution, and USD pricing, and Gold exposes the standardized unified surface across chains with parity between historical and real-time delivery. Proprietary components include Block Specimens and Block Results canonical storage formats, the Ethereum Wayback Machine (EWM) for preserving historical data against EIP-4444 deletion, and an industry-first Model Context Protocol (MCP) server exposing blockchain data to AI agents.
The company serves a horizontal developer and enterprise base including Web3 wallets (Rainbow, Atomic, ThorWallet), DeFi protocols (Matcha, Velora, Ondo), tax and accounting platforms (Koinly, CoinLedger, Crypto Tax Calculator), compliance and analytics firms (Chainalysis, Bubblemaps), and large enterprises (EY, Fidelity, Consensys, Jump). Revenue is generated through usage-based GoldRush API fees (paid in fiat or USDC), a $10/month Vibe Coding subscription tier targeting AI agents and vibe coding tools, the x402 pay-per-call protocol enabling direct wallet payments, and the SpeedRun no-code platform launched in Q4 2025. Distribution is API-first self-serve supplemented by Google Cloud Marketplace and QuickNode Marketplace for enterprise reach. The network is secured by the CXT token (ERC-20, fixed 1B supply), with on-chain governance, programmatic buybacks funded by revenue (~17M CXT purchased in 2025), and a Strategic Reserve targeting ~10% of supply. Backers include Binance Labs, Coinbase Ventures, 1kx, Woodstock, Delphi Digital, Maelstrom, and Rocktree.
The strategic positioning has shifted decisively in 2024-2026 toward AI and agentic systems as a primary customer segment, with dedicated infrastructure including the AI Agent SDK, MCP server, GoldRush CLI with native MCP, GoldRush Skills knowledge modules, and the x402 micropayment protocol. The company is led by co-founder and CEO Ganesh Swami, co-founder and CTO Levi Aul, and CFO/COO Adrian Jonklaas. Operational footprint remains small (11-50 employees) with offices in Vancouver, and the most recent disclosed funding was a $5M round in June 2024 earmarked for APAC expansion, AI integration, and Long-Term Data Availability.
Covalent firmographics
Firmographics- Name
- Covalent
- Legal name
- Covalent
- Website
- https://covalenthq.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Covalent, founded in 2018, operates GoldRush, a unified API delivering structured, verifiable blockchain data across 100+ chains to wallets, DeFi, tax platforms, and AI agents via a decentralized network secured by the CXT token.
- Ownership category
- akta.pro rank
Covalent industry classification
Industry- Product category
- Blockchain Data Infrastructure
- NAICS
- Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Interoperability & Cross-Chain Infrastructure (Bridges, Messaging, Atomic Swaps) (FSAGAMAI)
- akta.pro secondary industries
- Deployment, Automation & DevOps (build pipelines, contract deployment tools) (FSAPABAH), Protocol Security, Monitoring & Risk Tooling (audits, formal verification, analytics) (FSAPAAAL)
Keywords
Where Covalent is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Covalent business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Infrastructure, Personnel, Marketing or Sales, Operations
Revenue model
- GoldRush API Usage: API usage-based revenue from developers, enterprises, and AI agents querying blockchain data through GoldRush API. Customers pay in fiat or stablecoins like USDC, which triggers programmatic CXT buyback.
- SpeedRun Platform: Visual no-code platform for building on-chain applications and autonomous agents, launched Q4 2025. Revenue flows into CXT buyback program.
- x402 Pay-Per-Call: Blockchain data accessible via direct wallet payment, enabling AI agents to pay for data without API keys or accounts.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Vibe Coding Plan - Low-cost entry tier for AI agents and vibe coding tools |
| Usage-based | Pay-as-you-go | GoldRush API - Standard usage-based pricing |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels10 records
Covalent product offering
Product offeringCore offering
Covalent operates modular blockchain data infrastructure that structures, verifies, and indexes raw onchain data across 100+ chains via the GoldRush unified API. It delivers sub-second, deterministic JSON data to wallets, dashboards, DeFi protocols, tax platforms, and AI agents through REST and WebSocket endpoints, with a Bronze/Silver/Gold processing pipeline and complementary products including the AI Agent SDK, SpeedRun no-code platform, and x402 pay-per-call payments.
Product overview
Covalent operates as a modular data infrastructure layer providing verified, structured blockchain data across 100+ chains (230+ per tokenomics) at sub-second speeds. The product portfolio centers on GoldRush as the primary commercial multichain API, supplemented by SpeedRun (a no-code app-building platform), the AI Agent SDK, GoldRush CLI, GoldRush x402 (pay-per-call payments), and GoldRush Skills (structured knowledge modules for agents). The Covalent Network, secured by the CXT token, is the underlying decentralized infrastructure delivering the data. The Bronze/Silver/Gold data architecture (lossless raw storage, decoded/priced enrichment, unified API surface) underpins the entire product stack. Key differentiators include sub-200ms latency, 99.99% uptime, unified schemas across all chains, MCP support for AI agents, and x402 payment integration for autonomous agent billing.
Differentiator
Problem solved
Functional benefit
Brands
- GoldRush: The multichain API powering wallets, dashboards, and AI agents. Formerly known as the Unified API.
- SpeedRun
Products and services
- GoldRush API Unified multichain blockchain data API delivering structured, typed, deterministic JSON data across 100+ chains at sub-second speeds via REST and WebSocket. Powers wallets, dashboards, tax platforms, AI agents, and trading systems with endpoints for balances, transactions, token transfers, DeFi swaps, NFTs, OHLCV candles, internal transactions, and cross-chain bridge lifecycle data.
- SpeedRun Visual no-code platform for building and scaling full-stack onchain applications and autonomous agents, integrating x402 payments and Clanker for a prompt-to-earn workflow on Base. Revenue flows into the CXT buyback program.
- AI Agent SDK v0.2.0 Software development kit for building, deploying, and interacting with AI agents that consume onchain blockchain data via GoldRush, enabling the 'Zero Employee Enterprise' model of autonomous agent operations.
- GoldRush MCP Server Industry-first Model Context Protocol server for blockchain data, enabling AI models and agents to access structured onchain data through the MCP standard for agent interoperability.
- Hyperliquid Data on GoldRush Dedicated Hyperliquid data offering with custom co-located nodes, zero rate limits, unlimited wallet tracking, and exclusive data on liquidations and vault actions through the GoldRush Streaming API, targeted at HIP-3 builders.
- GoldRush CLI Terminal-first blockchain data tool with 17 commands supporting 100+ chains, real-time streaming, and native MCP support for AI agents, providing direct command-line access to GoldRush API functionality.
- GoldRush x402 Pay-per-call blockchain data payment system powered by the x402 HTTP payment protocol, enabling AI agents and applications to pay for GoldRush API calls using a crypto wallet directly without API keys.
- GoldRush Vibe Coding Plan Low-cost subscription tier ($10/month) providing AI agents, vibe coding tools, and developers low-friction entry access to onchain blockchain data for experimentation and iteration.
- CXT Token Native staking and governance token of the Covalent Network, serving as settlement currency, staking asset, governance token for on-chain proposals, and the medium through which revenue from GoldRush triggers programmatic buybacks feeding the Strategic Reserve.
Quantifiable outcome
- Sub-second indexing with <200ms latency and 99.99% uptime
- +4 more outcomes
Companies that use Covalent
Customer profileNamed customers19 records
Segments4 records
Ideal customer profiles4 records
Covalent technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability7 records
Feature6 records
Covalent partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core and minor.
- Cronos zkEVMcoreIntegration with Cronos zkEVM advancing data availability and scaling across the Covalent network, now covering 230+ blockchains.
- TaikominorEcosystem airdrop partnership distributing $100,000 worth of TAIKO tokens to CXT stakers as part of the Ecosystem Airdrop Program.
- BerachaincoreIntegration with Berachain introducing modular data infrastructure for its ecosystem, delivering verifiable and structured data.
- Google CloudcoreGoldRush Blockchain Data APIs made available on Google Cloud Marketplace, enabling enterprise customers to access structured blockchain data through existing GCP contracts and infrastructure.
- OKXcoreOKX operating as EWM (Ethereum Wayback Machine) Block Specimen Producer, preserving blockchain history. OKX also offers CXT staking with enhanced yields through the OKX platform.
- UnichaincoreIntegration with Unichain enabling scalable, data-driven solutions for Ethereum's DeFi ecosystem.
- SeicoreCovalent integrated with Sei blockchain to provide long-term data solutions for scaling Ethereum applications, delivering verifiable and structured data for the Sei ecosystem.
- Aerodrome FinancecoreCXT token launched on Base, powering DeFi and AI opportunities through Aerodrome Finance liquidity provision.
- QuickNodecoreCovalent launched on QuickNode Marketplace, providing onchain data add-ons for developers accessing blockchain infrastructure through QuickNode.
- ChainlinkminorPartnership with Chainlink Labs to support Chainlink BUILD participants with GTM expertise, mentorship, and up to $25,000 in grants.
- Consensys (Linea)corePartnership with Consensys Linea to provide structured blockchain data for Ethereum scaling solutions.
- MantlecoreIntegration with Mantle, Ethereum's first modular Layer 2, for next-level scalability and comprehensive blockchain data support.
- Polygon zkEVMcorePartnership with Polygon zkEVM to support scaling the Ethereum ecosystem, bringing visibility to Polygon zkEVM analytics as the first data provider.
Scale indicators10 records
Recent moves6 records
Expansion highlights7 records
Covalent competitors and assessment
Company assessmentDirect peers
- Subscan: Multi-chain blockchain explorer and API provider primarily serving Polkadot, Substrate, and EVM ecosystems. Comparable in providing structured onchain data APIs for builders across multiple chains.
- Alchemy: Leading blockchain developer platform offering multi-chain APIs, indexed data, and webhooks — directly overlapping with GoldRush's unified API across 100+ chains and targeting the same wallet, DeFi, and AI-agent developer segments.
- Moralis: Web3 API platform offering cross-chain wallet, token, NFT, and DeFi data to developers. Directly comparable to GoldRush for wallet/portfolio tracker builders and crypto tax platforms.
- QuickNode: Blockchain infrastructure provider offering RPC endpoints, hosted chains, and a marketplace of add-on data services (where Covalent itself is listed). Competes head-to-head for developer mindshare and increasingly bundles indexed data APIs.
- The Graph: Decentralized protocol for indexing and querying blockchain data via subgraphs across 40+ chains. Most direct competitor to Covalent's GoldRush API in the multichain data indexing category, serving wallets, dashboards, and DeFi apps.
- Chainstack: Managed blockchain infrastructure and API platform supporting 50+ chains with indexed endpoints. Targets similar enterprise and developer use cases for unified multichain data access.
Broad incumbents
- Infura (Consensys): Established Ethereum and multi-chain RPC/API provider owned by Consensys. Collaborates with Covalent on the decentralized Infura DIN but competes broadly in the same blockchain data infrastructure category; serves as a Linea partner.
- Ankr: Decentralized Web3 infrastructure provider offering RPC, staking, and AppChain services (and an investor in Covalent). Broader portfolio but overlaps with GoldRush on multichain data and developer APIs.
Emerging players
- Goldsky: Web3 data infrastructure offering subgraph hosting, mirrored subgraphs, and indexed APIs across EVM chains. Comparable to Covalent for developers needing custom indexing with API access.
- Flare Network: Layer 1 blockchain focused on cross-chain data oracle and interoperability. Overlaps with Covalent's structured-data mission through its FAsset system and cross-chain data delivery primitives.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Covalent social profiles
Digital presenceCovalent compliance and trust
Trust signalCompliance14 records
Covalent financial estimates
Financial estimateRevenue estimate
Valuation estimate
Covalent leadership team
Management profileNumber of profiles
Profiles3 records
Covalent funding detail
Funding detailFunding overview
Funding rounds6 records
Investors31 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Covalent M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Covalent
What does Covalent do?
Covalent operates modular blockchain data infrastructure that structures, verifies, and indexes raw onchain data across 100+ chains via the GoldRush unified API. It delivers sub-second, deterministic JSON data to wallets, dashboards, DeFi protocols, tax platforms, and AI agents through REST and WebSocket endpoints, with a Bronze/Silver/Gold processing pipeline and complementary products including the AI Agent SDK, SpeedRun no-code platform, and x402 pay-per-call payments.
Is Covalent a public or private company?
Covalent is a private company. It is classified as venture growth investor backed and is currently operating.
When was Covalent founded?
Covalent was founded in 2018. It employs 11 to 50 people.
Where is Covalent based?
Covalent is headquartered in Vancouver, Canada, in the North America region.
How does Covalent make money?
Three revenue lines are on record. GoldRush API Usage is the primary driver. The others are speedRun Platform and x402 Pay-Per-Call.
Who are Covalent's main competitors?
Direct peers on record are Subscan, Alchemy, Moralis, QuickNode, The Graph and Chainstack. Broad incumbents are Infura (Consensys) and Ankr. Emerging players are Goldsky and Flare Network.
Does Covalent have an API?
Yes. GoldRush is the unified multichain blockchain data API (formerly the Unified API) offering sub-second indexing across 100+ chains, streaming WebSocket APIs, and REST-based Foundational APIs. It provides unified schemas for wallet balances, transactions, token transfers, NFT data, DeFi swaps, OHLCV candles, and internal transactions. The GoldRush API powers wallets, dashboards, tax platforms, and AI agents. A 'Vibe Coding' tier is available at $10/month for AI agents and vibe coding tools. x402 payment protocol enables agents to pay-per-call using a wallet without API keys. SpeedRun is a visual no-code platform for building on-chain apps and autonomous agents. The GoldRush CLI offers 17 terminal commands with native MCP support for AI agents. Developer documentation is at goldrush.dev/docs.
What industry is Covalent in?
Covalent's product category is Blockchain Data Infrastructure. Its primary akta.pro industry code is FSAGAMAI, Interoperability & Cross-Chain Infrastructure (Bridges, Messaging, Atomic Swaps), with a secondary code of FSAPABAH, Deployment, Automation & DevOps (build pipelines, contract deployment tools). Its NAICS code is 518 and its SIC code is 6200.