ConsenSys Raises $450 Million While MetaMask Reaches 30 Million MAUs

ConsenSys – a leading Ethereum software company – just announced another $450 million in Series D funding. This brings the company’s total valuation to over $7 billion.

  • This more than doubles ConsenSys’s valuation since its $200 million Series C raise last November.
  • According to a press release from the company, the funding will be used to hire over 600 new employees around the world, and to help expand the broader Ethereum ecosystem even further.
  • New investors that participated in this round included Temasek, SoftBank Vision Fund 2, Microsoft, Anthos Capital, Sound Ventures, and C Ventures.
  • Former series C investors also took part, including Third Point, Marshall Wace, TRUE Capital Management, and UTA VC, United Talent Agency’s venture fund.
  • Proceeds from the round will be converted to ETH, as part of the company’s treasury strategy of balancing its ETH and USD holdings. This is reportedly to strengthen ConsenSys’s “ultrasound money” position before Ethereum transitions to proof of stake this year.
  • ConsenSys is the group behind various highly used products that support the Ethereum community and network applications. Among these is Ethereum API Infura, and Ethereum wallet MetaMask.
  • The latter recently touched over 30 million monthly active users, up 42% in four months.
  • Joseph Lubin – CEO and Founder of ConsenSys – said the next funding round will be considered ‘Series ETH’, encouraging investors to contribute directly using ETH.

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Source link Crypto Potato

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