Figment Accelerates its Leadership Position in Web 3 with $110 Million Series C Fundraise

Figment, one of the world’s largest blockchain infrastructure and services providers, announced a $110 million Series C fundraise at a $1.4 billion post-money valuation. The funding round was led by Thoma Bravo, a leading software investment firm, with participation from Counterpoint Global (Morgan Stanley), Binance Labs, Mirae Asset, ParaFi Capital, Avon Ventures, a venture capital fund affiliated with FMR LLC, the parent company of Fidelity Investments, Bitstamp, CMS Holdings, Two Sigma, B Capital Group, Franklin Templeton, DTCP, and StarkWare.

Founded on a mission to build a better, more inclusive, and user controlled Internet by increasing usage of the next generation of Proof of Stake (“PoS”) blockchains, Figment has an industry-leading role in building the Web 3 ecosystem. Figment provides crucial blockchain infrastructure, protocol staking, and research, and is now expanding its reach into the application layer to give entrepreneurs and developers the ability to build amazing products and services on Proof of Stake blockchains. The fundraise caps a year of extraordinary growth for Figment and solidifies its position as a Web 3 industry leader. Driven by an increase in networks supported, expanded services, and employee and customer expansion and retention, Figment has experienced explosive year over year growth.

Recommended News : Predictions Series 2022: Interview with Param Kahlon, Chief Product Officer at UiPath

The new capital raised will expand Figment’s ability to support the adoption, growth and long-term success of the Web 3 ecosystem – as well as significantly grow its headcount.

“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,” said Lorien Gabel, co-founder and CEO of Figment. “The caliber of investors in our series C round cements Figment’s position as one of the most trusted and well-established platforms in the Web 3 ecosystem. We’re seeing tons of experienced engineers jump from traditional software into this space. Many of these people have joined our team and we have created an amazing Web 3 native organizational culture around them.”

Recommended AI News: Metaverz Studio Announces AOZ NFT Drop

“We are thrilled to be partnering with the talented Figment team at an exciting point in their growth journey,” said Tre Sayle, a Partner at Thoma Bravo. “Figment’s dedication to creating a simplified process for building on the next generation of blockchain technology as well as their entrepreneurial culture sets the company apart and we’re excited to work with them as they usher in the Web 3 future.”

Business highlights in 2021 include:

• Invested in recruiting and talent development efforts to significantly grow headcount to 118 global employees with zero employee turnover.
• Reached over $7.5B in digital assets staked to its infrastructure across the 50+ supported networks, now supporting over 130+ institutional clients, up from 31 the previous year.
• Launched Figment Capital, the investment arm of Figment that is dedicated to fueling the growth of new decentralized protocols and applications by leveraging the company’s wealth of experience, connections, and expertise in the Web 3 space and invest in innovative projects.
• Joined the Pyth data oracle network as a core contributor and partner, working closely with Pyth network participants to bring even greater functionality and usability to the Pyth network.
• Joined The Graph ecosystem as one of the three core protocol development teams, marking the next evolution of Web 3, which we believe will profoundly change the world.

Recommended AI News: Binance and a Consortium Led by MDI Ventures Establish Joint Venture to Grow the Blockchain Ecosystem in Indonesia

[To share your insights with us, please write to sghosh@martechseries.com]