Just 4 months after their $50,000,000 Series B, Figment has announced another successful $110,000,000 raise for their Series C round that valued the company almost 3 times higher, at an eye-popping $1.4B.
“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”Lorien Gabel, Figment CEO & Co-Founder
In 2021 Figment reached over $7.5 billion dollars in digital assets staked to its infrastructure across the 50+ supported networks, and added 100 new institutional clients throughout the year.
The current Series C round was led by software investment firm Thoma Bravo. Other participants in the round were Morgan Stanley’s Counterpoint Global, Binance Labs, Mirae Asset, ParaFi Capital, Avon Ventures, Bitstamp and Franklin Templeton, among others.
The company will use the money to continue its incredible growth trajectory, expanding on its reach in the crypto staking industry.
Leading The Web 3.0 Revolution
The crypto staking company was founded in 2018 by Matt Harrop, Lorien Gabel and Andrew Cronk with a pre-seed round of $1M and 2 more seed rounds bringing in $1.5M and $2.5M respectively. Their mission statement: to support the adoption, growth and long term success of the Web 3.0 ecosystem.
Over the next 3 years Figment delivered on its promise by building a suite of crypto staking solutions for institutional grade clients: Foundations, VC firms, Hedge Funds, Exchanges, Fiduciaries and wealthy individuals.
In addition to providing institutions with custodial crypto staking services and working with esteemed names such as Coinbase, Figment’s flagship product is “Figment Prime“, which offers a set of off and on-chain services for the largest token holders in a Proof-Of-Stake network.
Exploring Web 3.0 The Right Way
Figment’s most exciting product in our opinion is the fantastic Hubble Web 3 Explorer.
Hubble is the platform validators and token holders use to explore and interact with Web 3 protocols. Validators use Hubble to monitor their performance, manage proposals, and obtain valuable insights into their delegator base.
Users and token holders use Hubble to stake, vote, and track their rewards. It becomes the Hub that manages their whole Web 3 experience.