Total amount raised
$725 Millions
Latest funding date
Location
ConsenSys has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The company is a key player in the Ethereum blockchain ecosystem, offering a suite of products that cater to developers, enterprises, and individual users.
Keep reading to explore the intricacies of ConsenSys's fundraising journey and the investors backing this innovative platform.
What Is ConsenSys?
ConsenSys, founded in 2014, is a leading blockchain and web3 software company based in Brooklyn, New York. The company was established by Aaron Davis, Donnie Benjamin, Joseph Lubin, and Kishore Atreya.
ConsenSys builds Ethereum blockchain infrastructure and applications, offering a suite of products like Infura, Quorum, Truffle, Codefi, MetaMask, and Diligence. These tools serve millions of users and support billions of blockchain-based queries.
With a workforce of 501-1000 employees, ConsenSys enables developers, enterprises, and individuals worldwide to create next-generation applications and access the decentralized web.
How Much Funding Has ConsenSys Raised?
- Venture Round
- Amount Raised: $10M
- Date: July 2019
- Lead Investors: SK Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and development of blockchain infrastructure.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: August 2020
- Lead Investors: JP Morgan
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen strategic partnerships and expand blockchain solutions.
- Convertible Note
- Amount Raised: $65M
- Date: April 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and support operational growth.
- Series C
- Amount Raised: $200M
- Date: November 2021
- Lead Investors: Marshall Wace, Third Point Ventures
- Valuation at Round: $3.2B
- Motivation Behind the Round: To capitalize on the company's profitability and expand flagship projects like MetaMask and Infura.
- Series D
- Amount Raised: $450M
- Date: February 2022
- Lead Investors: ParaFi Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and support the growing demand for blockchain solutions.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: August 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for existing shareholders and attract new strategic investors.
Total Amount Raised: $725M
Current Valuation: $3.2B
Key Investors
- Marshall Wace
- Details: Marshall Wace is a global alternative investment manager specializing in long/short equity strategies. The firm is known for its quantitative and fundamental investment approaches.
- Investment Focus Areas: Hedge funds, long/short equity, technology.
- Notable Investments: Various investments across multiple sectors, including technology and finance.
- Third Point
- Details: Third Point is a New York-based hedge fund founded by Daniel S. Loeb. The firm is known for its activist investing and event-driven strategies.
- Investment Focus Areas: Activist investing, event-driven strategies, value investing.
- Notable Investments: Sony, Nestlé, Campbell Soup.
- ParaFi Capital
- Details: ParaFi Capital is an investment firm focused on blockchain and decentralized finance (DeFi). The firm aims to support the growth of the digital asset ecosystem.
- Investment Focus Areas: Blockchain technology, decentralized finance (DeFi), digital assets.
- Notable Investments: Uniswap, Aave, Compound.
- Coinbase Ventures
- Details: Coinbase Ventures is the investment arm of Coinbase, one of the world's largest cryptocurrency exchanges. The firm focuses on early-stage cryptocurrency and blockchain startups.
- Investment Focus Areas: Blockchain, cryptocurrency, fintech.
- Notable Investments: Compound, OpenSea, BlockFi.
- HSBC
- Details: HSBC is a multinational banking and financial services organization headquartered in London. It is one of the largest banks in the world.
- Investment Focus Areas: Banking, financial services, technology.
- Notable Investments: Various investments in financial technology and innovation.
What's Next for ConsenSys?
ConsenSys stands at the cusp of significant opportunities, driven by the expansion of key projects like MetaMask and Infura. With MetaMask boasting 21 million monthly active users and Infura supporting 350,000 developers, the potential for growth is immense. The company is also poised to capitalize on the rising adoption of decentralized finance (DeFi) and non-fungible tokens (NFTs), as well as the increasing interest in Central Bank Digital Currencies (CBDCs).
Future fundraising efforts seem likely, given the company's rapid growth and the strong interest from institutional investors. The recent $200 million raise at a $3.2 billion valuation underscores the market's confidence in ConsenSys. However, challenges such as Ethereum's throughput issues, regulatory hurdles, and competition from other blockchain platforms could pose obstacles. Ensuring scalability and maintaining a robust infrastructure will be crucial as ConsenSys navigates these challenges and continues its upward trajectory.
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