MetaMask creator: ConsenSys raises $450M in Series D round via ParaFi Capital
- ByStartupStory | March 16, 2022
The maker of leading self-custodial crypto hot wallet MetaMask, Consensys today announced its raise of $450 million in Series D funding at a valuation of $7 billion. Over reaching 30 million Monthly Active Users (MAU), the fundraise comes on the back of MetaMask, the firm claimed.
The round was led by ParaFi Capital; it also participated in November 2021 in ConsenSys’ Series C round. New investors Temasek, Anthos Capital, SoftBank Vision Fund 2, Microsoft, Sound Ventures, and C Ventures also joined in the round.
The new round also saw participation from Series C investors Third Point, True Capital Management, Marshall Wace, and UTA VC, United Talent Agency’s venture fund.
The firm has long maintained a treasury of ETH, stablecoins and other crypto tokens. Its own financial infrastructure such as MetaMask Institutional and Codefi Staking is being used in anticipation of Ethereum’s upcoming merge to Proof of Stake to stake these assets in DeFi protocols.
The rapid expansion of MetaMask, with a major redesign scheduled for release later in 2022, along with the rollout of a plug-in extensibility system that will allow integration with a wide variety of blockchain protocols and account security schemes, will be reportedly supported by the fundings.
The global adoption of Infura’s development tool suite as well as efforts to drive NFT adoption for brands, artists, content creators, intellectual property owners, game publishers, and sports leagues, will also be accelerated by ConsenSys.
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