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ConsenSys raises $450M in Series D funding, doubles valuation in four months

March 15, 2022No Comments


On Tuesday, ConsenSys, the leading decentralized protocol software company and Ethereum with product suites such as MetaMask, Infura, and Truffle, Announced the closing of a $450 million Series D funding round led by ParaFi Capital. Notable new investors included Temasek, SoftBank Vision Fund 2, Microsoft, Anthos Capital, Sound Ventures, and C Ventures. The deal more than doubles its valuation since the company's $200 million Series C raise in November 2021.

The winnings of the round will be converted, in part, into Ether (ETH) to rebalance the relationship between ETH and US dollar equivalents in the ConsenSys treasury. The company actively seeks to use its own financial infrastructure to earn returns on such assets in decentralized finance (Defi), protocols and via staking. The proceeds will also support the expansion of MetaMask, with a major redesign scheduled for release later in 2022 and the release of a plugin extensibility system that will enable integration with a wide variety of blockchain protocols and blockchain security schemes. accounts.

In January, MetaMask surpassed 30 million monthly active users, an increase of 42% in four months. With the wallet, users can mint and collect non-fungible tokens, join decentralized autonomous bodiesand participate in DeFi protocols. Meanwhile, more than 430,000 developers use the Ethereum Infura development platform. Its Ethereum API now supports over $1 trillion in annualized on-chain ETH transaction volume.

Joseph Lubin, founder and CEO of ConsenSys, made the following comments about the development:

โ€œI think of ConsenSys as a broad and deep capabilities machine for the decentralized protocol ecosystem, capable of quickly capitalizing on emerging foundational constructs at scale. [...] This vision has resonated with our native and growth crypto investors on a Series D that will allow us to execute powerful growth strategies.โ€