ConsenSys Valuation Surpassed $7 B With the Latest Round

by in Cryptocurrency News

ConsenSys Series D valuation

Ethereum software firm ConsenSys revealed closing Series D funding round with $450 M raised. Thus, the company’s valuation topped $7 bln.

Related: ConsenSys raised $200 million at an estimate of $3.2 billion

Investment firm ParaFi Capital, which took part in the Series C round of the company in Nov. 2021, led the round. Among the participants were Temasek, SoftBank Vision Fund 2, Microsoft, Third Point, TRUE Capital Management, and others.

One of the company's most popular products, the MetaMask wallet currently supports over 30 M monthly active users.

Over the last 4 months, the number of MetaMask users increased by 42%. MetaMask allows users to take part in DeFi protocols by connecting the wallet, mint and collect NFTs, and join Decentralized Autonomous Organizations (DAOs).

The ConsenSys team said they will use the funding to hire 600 new employees worldwide, and reinvest the proceeds in development and tooling for Ethereum.

Established in October 2014, ConsenSys allows building applications, launching financial infrastructure, and accessing web 3 platforms. The company stands behind the development of the Infrastructure-as-a-Service (IaaS) provider Infura, Ethereum security and smart contracts audit company Diligence, and other products.