ConsenSys – a leading Ethereum software company – has just announced another $450 million in Series D funding. This brings the company’s total valuation to over $7 billion.
- This more than doubled ConsenSys’ valuation since its $200 million Series C increase last November.
- According to a press release from the company, the funding will be used to hire more than 600 new employees worldwide and help expand the wider Ethereum ecosystem even further.
- New investors participating in the round included Temasek, SoftBank Vision Fund 2, Microsoft, Anthos Capital, Sound Ventures and C Ventures.
- Former Series C investors also participated, including Third Point, Marshall Weiss, True Capital Management, and UTA VC, United Talent Agency’s venture fund.
- Proceeds from the round will be converted into ETH, as part of the company’s strategy to balance its ETH and USD holdings. This is reportedly in order to strengthen ConsenSys’ “ultrasound money” position ahead of Ethereum’s transition to proof of stake this year.
- ConsenSys is the group behind various highly used products that support Ethereum community and network applications. These include the Ethereum API Infura and the Ethereum wallet MetaMask.
- The latter recently touched more than 30 million monthly active users, up 42% in four months.
- ConsenSys CEO and founder Joseph Lubin said that the next funding round will be considered a ‘Series ETH’, encouraging investors to contribute directly using ETH.
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