A new unicorn in the cryptocurrency industry. Web 3.0 developer Figment has raised $110 million in a Series C funding round, bringing its valuation to $1.4 billion.
Figment raises $110 million
Figment, a leading provider of blockchain infrastructure and services, confirmed the news in a statement on Monday. The Canadian company successfully closed a $110 million fundraising round, bringing its valuation to more than $1.4 billion, becoming a new unicorn in the cryptocurrency industry.
Figment is super excited to share the news that we closed a $110m Series-C round to further accelerate the growth of Web 3 https://t.co/6pkYJCgs3R
– Figment (@Figment_io) December 20, 2021
The round was led by Thoma Bravo, a leading software investment firm. It also saw participation from Counterpoint Global (Morgan Stanley), Binance Labs, Mirae Asset, ParaFi Capital, Bitstamp, StarWare and many other investment funds.
The quality of the investors who participated in our Series C round confirms Figment’s position as one of the most trusted and established platforms in the Web 3.0 ecosystem,” said Lorien Gabel, co-founder and CEO of Figment.
This fundraising is the conclusion of a rather exceptional 2021 for Figment, in line with the explosion that the entire cryptocurrency industry has experienced. In August, the Canadian company had already raised $50 million in a Series B funding round.
Competing with other platforms focused on digital asset staking, including Blockdaemon, Everstake or Chorus One, Figment claims to have more than $7.5 billion in assets under management. The number of institutional clients has also grown from 31 to over 130 during the year. Figment’s major clients include Coinbase, Crypto.com, Anchorage, The Graph and Ether Capital.
Update (3/4) Blockchain infrastructure and software provider Figment has raised $110 million in a Series C round that pushes the Canada-based company’s valuation to $1.4 billion. This money will be used to…https://t.co/66Wp2bkCOabitcointrading eth investment money pic.twitter.com/tTAgzIQ4ZW
– ICONOMI Pulse (@IconomiPulse) December 20, 2021
A desire to boost Web 3.0 development
Launched in 2018, Figment is working to increase the use of Proof-of-Stake (PoS) blockchains on the Internet, the consensus mechanism used by Ethereum version 2.
Figment plays a leading role in building Web 3.0 and the finance of tomorrow. The platform allows investors to secure their tokens, easily stage them, generate returns and participate in the governance of over 50 partner protocols.
The new funds raised will enable Figment to strengthen its ability to support the adoption, growth and long-term success of the Web 3.0 ecosystem and to significantly increase its staffing levels,” the statement said.
The new capital will be used to hire staff to continue building Web 3.0. Figment plans to expand its DataHub 2.0 platform, designed to make it easier to build decentralised applications on the blockchain. It provides developers with a powerful infrastructure and tools to develop their products more easily.
