Ethereum News

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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