Figment Reaches Unicorn Status With $110M Series C

Blockchain infrastructure provider Figment raised $110 million in a Series C round led by software investment firm Thoma Bravo. The latest funding takes the firm’s valuation to $1.4 billion, Figment said in a press release on Monday.

• Other participants in the round were Morgan Stanley’s Counterpoint Global, Binance Labs, Mirae Asset, ParaFi Capital, Avon Ventures, Bitstamp and Franklin Templeton, among others.
• Figment will use the funding to accelerate its Web 3 growth and increase its headcount. Web 3 is the third generation of internet services that have been made possible by decentralized networks.
• The Series C follows a $50 million Series B round in August, which was led by institutional investors Senator Investment Group and Liberty City Ventures. Anchorage Digital, Galaxy Digital and 10T Ventures also participated in the Series B. A unicorn is a startup with a valuation of over $1 billion, which Figment has achieved with the latest funding round.
• Figment develops back-end systems and infrastructure that provide yield on tokens for proof-of-stake (PoS) blockchains.

Read more: Web 3 Is a Return to the Internet’s Wild Spirit

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