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Figment Reaches Unicorn Status With $110M Series C
The funding round was led by Thoma Bravo, and also included Binance, Mirae Asset, ParaFi Capital, Bitstamp and Franklin Templeton.
Blockchain infrastructure provider Figment raised $110 million in a Series C round led by software investment firm Thoma Bravo. The latest funding takes the firm’s valuation to $1.4 billion, Figment said in a press release on Monday.
- 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.
- Figment will use the funding to accelerate its Web 3 growth and increase its headcount. Web 3 is the third generation of internet services that have been made possible by decentralized networks.
- The Series C follows a $50 million Series B round in August, which was led by institutional investors Senator Investment Group and Liberty City Ventures. Anchorage Digital, Galaxy Digital and 10T Ventures also participated in the Series B. A unicorn is a startup with a valuation of over $1 billion, which Figment has achieved with the latest funding round.
- Figment develops back-end systems and infrastructure that provide yield on tokens for proof-of-stake (PoS) blockchains.
Read more: Web 3 Is a Return to the Internet’s Wild Spirit
STORY CONTINUES BELOW
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
