Figment Closes $110M Series C Funding Round
- Figment will use the new capital to add support for staking across more proof-of-stake (PoS) blockchains, as well as significantly grow its headcount.
- Figment has more than $7.5 billion in digital assets staked on its infrastructure, which spans across 50 networks and supports over 130 institutional clients.
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Blockchain infrastructure provider Figment has reached a unicorn status after completing a $110 million Series C funding round at $1.4 billion valuation, the company said in a press release on 20 December.
According to the announcement, Figment’s funding round was led by Thoma Bravo, a private equity firm with $91 billion in assets under management and a recent interest in the crypto and fintech sectors. The Series C also saw participation from Morgan Stanley’s Counterpoint Global, ParaFi Capital, Avon Ventures, Binance Labs, Mirae Asset, and Bitstamp among others. Tre Sayle, partner at Thoma Bravo, said in a statement:
“We are thrilled to be partnering with the talented Figment team at an exciting point in their growth journey. Figment’s dedication to creating a simplified process for building on the next generation of blockchain technology as well as their entrepreneurial culture sets the company apart and we’re excited to work with them as they usher in the Web 3 future.”
The newly acquired capital will help Figment accelerate its Web 3 growth and adoption, add support for staking across more proof-of-stake (PoS) blockchains, as well as significantly grow its headcount. The company previously raised $50 million through a Series B in August, which was led by Senator Investment Group and Liberty City.
The press release further noted that Figment has experienced an incredible growth in 2021, reaching more than $7.5 billion in digital assets staked on its infrastructure, which spans across 50 networks and supports over 130 institutional clients. The company has also launched an investment arm, Figment Capital, which will primarily focus on investing in the crypto industry.
- Unnamed sources have said that the company is currently in talks with interested parties to raise at least $100 million in a new funding round.
- The same people noted that Ledger had experienced growth in its business over the past months, as investors turn to cold storage.
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- The Series F round has more than doubled Chainalysis’ valuation since last year, which is not surprising considering it has increased its customer base by 75%.
- The company has claimed that its various tools are now responsible for monitoring around $1 trillion worth of transactions each month.
- KuCoin’s $150 million pre-Series B funding round was led by Jump Crypto, and increased the valuation of the company to $10 billion.
- KuCoin will use the funds to expand its product offerings, as well as build and invest into DeFi, GameFi, NFT, and crypto wallet platforms.