Consensys Raises $450 Million at Huge $7 Billion Valuation

Consensys has announced a Series D funding round that values the firm at over $7 billion – more than double its Series C round last November.

According to a statement by Consensys, the firm raised $450 million in a round led by ParaFi Capital joined by new investors, including Temasek, SoftBank Vision Fund 2, Microsoft, Anthos Capital, Sound Ventures, and C Ventures. Series C investors — Third Point, Marshall Wace, TRUE Capital Management, and UTA VC, United Talent Agency’s venture fund.

ConsenSys has been a leader in the hot Web3 / DeFi space noting that MetaMask exceeded 30M monthly active users accessing Web3 applications, a 42% increase in 4 months.

The new month is expected to support the hiring of over 600 new employees globally, and continued reinvestment in development and tooling for the extended Ethereum ecosystem. The company currently reports 700 employees. Consensys said the proceeds will be converted to ETH to “rebalance the ratio of ETH to USD-equivalents in line with ConsenSys’ treasury strategy.”

Joseph Lubin, founder and CEO of ConsenSys, commented:

“I think of ConsenSys as a broad and deep capabilities machine for the decentralized protocols ecosystem, able to rapidly capitalize at scale on fundamental new constructs that emerge, such as developer tooling, tokenization, token launches, wallets, security audits, DeFi (1.0, 2.0 and beyond), NFTs, bridges, Layer-2 scaling, DAOs, and more. This view has resonated with our crypto native and growth investors in a Series D that will enable us to execute powerful growth strategies. This round takes in digital assets as well as fiat and converts immediately to ETH. Next round will be our ‘Series ETH’ where we will assist investors in getting fully crypto native to contribute ETH as a symbol of and commitment to the ongoing paradigm shift.”

ConsenSys said it will also accelerate the global adoption of Infura’s development tool suite as well as ConsenSys’s efforts to drive NFT adoption. Infura now reports 430,000 developers and in excess of $1 trillion in annualized on-chain ETH transaction volume supported through Infura’s Ethereum API.

ParaFi Capital Founder and Managing Partner, Ben Forman said that Consensys has become one of the most important firms in the blockchain sector:

“In particular, MetaMask is the gateway for over 30 million users to access web3 and DeFi applications every month, making it one of the most widely used blockchain products in the world for consumers and businesses. As a long-time power user of ConsenSys’ products and services, ParaFi is thrilled to be an investor and thought partner as the company continues to operate at the forefront of decentralized infrastructure.”



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