Blockchain Infrastructure and Services provider, Figment raises $110 Million in Series C funding


Figment, a New York based Blockchain infrastructure and services provider, has now secured $110 million in Series C funding at a post-money valuation of $1.4 billion.

Figment was founded by Lorien Gabel. It offers blockchain infrastructure, protocol staking and research and is now expanding its reach into the application layer to give entrepreneurs and developers the ability to products and services on Proof of Stake blockchains.

Executive Opinion

Lorien Gabel, Co-founder & CEO at Figment, said, "Figment has had an exceptional year marked by the continued success and explosive growth as PoS has become mainstream amid the growing movement to make finance more accessible and inclusive. 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."

Bill Mehleisen, Chief of Staff at Figment, said, "One of the most exciting things about building Web 3 is designing new ways of working and incentivizing teams. As a fully remote, decentralized team, Figment is more an ecosystem than a company. People thrive because they have autonomy, collaboration, and skin in the game to pursue building the future together."

Figment's latest funding

The round was backed by the Thoma Bravo. Other participating investors include Counterpoint Global, Mirae Asset, Binance Labs, ParaFi Capital, StarkWave, Franklin Templeton, Two Sigma, DTCP, B Capital Group, and Avon Ventures.

The blockchain company, as of now, has plans to use the new funds to expand its ability to support the adoption, long-term success, and growth of the Web 3 ecosystem – as well as grow its headcount.
PC: Pixabay

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Udit Agarwal Opinions expressed by techsutram contributors are their own. More details

Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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