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Laxman Pai, Opalesque Asia: London-based cryptocurrency firm has raised a $120 million funding round. The company develops a popular cryptocurrency wallet as well as an exchange, an explorer, and more.
The company did not officially disclose the valuation at which the funds were raised. But according to some media reports, the deal raises the company's private valuation to more than $3 billion, including the money raised.
Investors in the latest funding round include existing backers Alphabet's GV, formerly known as Google Ventures, and Lightspeed, known for placing early bets on Dropbox and Snap.
Other investors in the funding round included hedge fund manager Kyle Bass, industrial group Access Industries and investment firms Moore Strategic Ventures and Rovida Advisers.
Blockchain, founded in 2011, last raised about $40 million in June 2017 at a $280 million private valuation, not including the money raised. The firm has raised a total of $190 million to date. The latest fundraising multiplies its past appraisal by almost 10 times, the reports said.
"When we set out to raise our Series A in late 2014, there were only a handful of venture-backed crypto companies. A bitcoin was worth hundreds of dollars and we were pleased to power just over 2 million wallets in the wild," says Peter Smith, Blockchain's chief executive since 2014.
"Six years later, we've come a long way. Bitcoin just crossed the monumental price target of $50k...................... To view our full article Click here
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