Ethereum developer ConsenSys has nabbed a $7 billion valuation, becoming one of the biggest cryptocurrency companies
The valuation of Ethereum software developer ConsenSys has swelled to $7 billion after the Brooklyn, New York-headquartered company raised $450 million during its Series D funding round, according to a Tuesday press release.
The massive fundraise was spearheaded by blockchain-focused alternative investment firm ParaFi Capital. Notably, the list of investors includes tech giant Microsoft as well as SoftBank’s Vision Fund 2.
ConsenSys, which is known for developing the popular MetaMask cryptocurrency wallet, has more than doubled its valuation from the $3.2 billion it reached in November thanks to a $200 million Series C funding round.
The company plans to expand its staff to 1,000 employees by the end of the year.
MetaMask, one of the core products, is slated to get a “major redesign” earlier this year recently topping 30 million active monthly users. With the help of the recently injected capital, ConsenSys will also focus on scaling its flagship developer Infura.
Source: https://u.today/microsoft-invests-in-ethereum-developer-consensys