ConsenSys has secured $450 million in a Series D funding round. The company intends to use the raised funds to increase its human resources. The company had earlier closed a Series C funding round of $450 million in November.
ConsenSys closes a Series D funding round
Following this funding round, ConsenSys’ valuation has increased to more than $7 billion. The valuation of the company has more than doubled following this funding round. The funding round was led by ParaFi Capital, and it saw the participation of other venture capital firms such as Microsoft, SoftBank Vision Fund 2, Anthos Capital and more.
The company plans to use the raised funds to increase the number of employees. It plans to hire more than 600 employees globally. It also plans to expand the Ethereum ecosystem. It plans to do this by buying more ETH to rebalance its treasury.
“As a long-time power user of ConsenSys’ products and services, ParaFi is thrilled to be an investor and thought partner as the company continues to operate at the forefront of decentralized infrastructure,” the founder and managing partner of ParaFi Capital, Ben Forman, said.
The $450 million raised from this funding round will be converted into Ethereum. ConsenSys is doing this to balance its Ethereum and USD holdings. The move will allow ConsenSys to boost its position of achieving an “ultrasound money” position. This will allow the company to remain proactive as Ethereum switches to a proof-of-stake consensus.
The CEO of ConsenSys, Joe Lubin, has noted that the company is also planning to raise another funding round known as “Series ETH” This funding round will allow users to contribute funding through Ether tokens.
Metamask monthly active users surpass 30 million
ConsenSys is one of the active players in the cryptocurrency sector. The firm has been behind the development of some notable projects in the sector, such as MetaMask and API Infura.
MetaMask has achieved commendable growth in recent months. Recently, the Ethereum wallet surpassed more than 30 million monthly active users. This is a 42% growth in just four months.
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Source: https://insidebitcoins.com/news/consensys-secures-450m-in-a-series-d-funding-round