Figment Company Raises $ 110 Million to Continue Web3.0 Development


Figment raises $ 110 million

Figment, one of the largest infrastructure providers and blockchain services, confirmed the information in a statement published this Monday. The Canadian company successfully closed $ 110 million fundraising, carrying its valuation over $ 1.4 billion, becoming a new unicorn in the cryptocurrency industry.

The round table was conducted by Thoma Bravo, a major computer software investment company. It has also seen participation from Counterpoint Global (Morgan Stanley), Binance Labs, Mirae Asset, ParaFi Capital, Bitstamp, StarWare and many other investment funds.

β€œThe quality of the investors who participated in our Series C fundraising round confirms Figment’s position as one of the most trusted and established platforms in the Web 3.0 ecosystem,” explained Lorien Gabel, co-founder and CEO of Figment.

This fundraising is the conclusion of a fairly exceptional year 2021 for Figment, in line with the explosion experienced by the entire cryptocurrency industry. In August, Canadian society had already raised $ 50 million as part of a Series B financing round.

In competition with other platforms focused on staking digital assets, including Blockdaemon, Everstake or Chorus One, Figment says hold over $ 7.5 billion in assets under management. The number of institutional clients has also increased, from 31 to more than 130 during the year. Among Figment’s main clients are Coinbase, Crypto.com, Anchorage, The Graph and Ether Capital.

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A desire to boost the development of Web 3.0

Launched in 2018, Figment strives to increase Internet use of blockchains Proof-of-Stake (PoS) type (ie proof of stake in French), the consensus mechanism used in version 2 of Ethereum.

Figment plays a leading role in the construction of Web 3.0 and the finance of tomorrow. The platform allows investors to secure their tokens, to easily stake them, to generate returns and participate in the governance of more than 50 protocols partners.

“The new funds raised will allow 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 workforce,” the statement read.

This new capital will be used to hire staff to continue building Web 3.0. Figment plans to develop its DataHub 2.0 platform, designed to facilitate the construction of decentralized applications on the blockchain. It provides developers powerful infrastructure and tools to develop their products more simply.

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About the Author : Lilian aliaga

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Freelance writer located between Paris and Toulouse. I want to share my passion for the world of cryptocurrencies with as many people as possible. I am also interested in technical analysis and trading.
All articles by Lilian Aliaga.


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