NEW YORK – (BUSINESS WIRE) – Dec. 20 2021–
Figment, one of the largest providers of blockchain infrastructure and services in the world, today announced a Series C fundraising of $ 110 million at a post-currency valuation of $ 1.4 billion . The roundtable was led by Thoma Bravo, a leading software investment firm, with participation from Counterpoint Global (Morgan Stanley), Binance Labs, Mirae Asset, ParaFi Capital, Avon Ventures, a private equity fund. risk affiliated with FMR LLC, the parent company of Fidelity Investments, Bitstamp, CMS Holdings, Two Sigma, B Capital Group, Franklin Templeton, DTCP and StarkWare.
Founded on the mission to create a better, more inclusive, and user-controlled Internet by increasing the use of next-generation Proof of Stake (“PoS”) blockchains, Figment is playing a leading role in building the 3. Figment web ecosystem provides crucial blockchain infrastructure, protocol staking and research, and now extends its reach to the application layer to give entrepreneurs and developers the ability to create amazing products and services on blockchains Proof of Stake. Fundraising crowns a year of extraordinary growth for Figment and reinforces its leadership position in the Web 3 industry. Driven by an increase in supported networks, extended services, as well as employee expansion and retention and of customers, Figment has experienced explosive year-over-year growth.
The new capital raised will increase Figment’s ability to support the adoption, growth and long-term success of the Web 3 ecosystem – as well as significantly increase its workforce.
“Figment has had an exceptional year marked by continued success and explosive growth as PoS has become mainstream amid the growing movement to make finance more accessible and inclusive,” said Lorien Gabel, co-founder and CEO from Figment. “The caliber of investors in our C-Series reinforces Figment’s position as one of the most trusted and established platforms in the Web 3 ecosystem. We are seeing tons of seasoned engineers moving from traditional software to this space. Many of these people have joined our team and we’ve created an incredible native Web 3 organizational culture around them.
“We are delighted to join the talented Figment team at an exciting time in their growth journey,” said Tre Sayle, partner at Thoma Bravo. “Figment’s dedication to creating a streamlined process to leverage the next generation of blockchain technology as well as their entrepreneurial culture sets the company apart and we are excited to work with them as they usher in the future of Web 3. . “
Highlights of activity in 2021 include:
- Investing in recruitment and talent development efforts to dramatically increase headcount to 118 employees globally with zero staff turnover.
- Reaches more than $ 7.5 billion in digital assets staked in its infrastructure on more than 50 supported networks, now supporting more than 130 institutional clients, up from 31 the previous year.
- Launch of Figment Capital, the investment arm of Figment dedicated to fueling the growth of new decentralized protocols and applications by leveraging the company’s wealth of experience, connections and expertise in the Web space 3 and by investing in innovative projects.
- Joined the Pyth Data Oracle Network as a Contributor and Primary Partner, working closely with Pyth Network participants to bring even more functionality and usability to the Pyth Network.
- Joined The Graph ecosystem as one of three core protocol development teams, marking the next evolution of Web 3, which we believe will profoundly change the world.
ABOUT THE FIGURE
Figment’s The goal is to build a better Internet by increasing the use of the next generation of Proof of Stake blockchains. These effective blockchains give people greater control over their data, more privacy, and increase financial inclusion. By eliminating middlemen, they also limit the power of centralized data monopolies, rent-seeking institutions and anti-social algorithms. We make our mission a reality by helping investors bet their tokens; earn returns and participate in securing the blockchain. Our Hubble and First the applications as well as our expertise in governance enable token holders to analyze, monitor and make informed decisions. We build 3 web developer communities through our Learn education program, then make it easy for those developers to launch apps and manage smart contracts through our DataHub Platform. And finally by building and operating The graphic based indexers, we enable efficient search and query of blockchain data.
ABOUT THOMA BRAVO
Thoma Bravo is one of the largest private equity firms in the world, with more than $ 91 billion in assets under management as of September 30, 2021. The company invests in innovative and growth-oriented companies operating in the sectors software and technology. Leveraging the company’s in-depth industry expertise and proven strategic and operational capabilities, Thoma Bravo works with its portfolio companies to implement operational best practices, drive growth initiatives and complete accretive acquisitions aimed at accelerate revenues and profits. Over the past 20 years, the company has acquired more than 325 companies representing more than $ 155 billion in enterprise value. The company has offices in Chicago, Miami and San Francisco. For more information visit thomabravo.com.
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PUB: 12/20/2021 8:00 a.m. / DISC: 12/20/2021 8:01 a.m.
Copyright Business Wire 2021.