Figment Gets $110M Funding, Binance Labs and Binance US Involved

The Web 3.0 firm successfully closed a $110 million funding round at a valuation of $1.4 billion.

Funding Secured for Figment

Figment has raised $110 million in a series-c round of funding which will help the firm accelerate the growth of Web 3.0.

Following the raise, which was led by Thoma Bravo, the Web 3.0 pioneer has become a tech ‘unicorn’ valued at $1.4 billion. Other investors in the company include Counterpoint Global (Morgan Stanley), Mirae Asset, ParaFi Capital, Avon Ventures, Bitstamp, CMS Holdings, Two Sigma, B Capital Group, Franklin Templeton, DTCP, StarkWare and Binance Labs.

Figment is focused on building on the next generation of Proof-of-Stake blockchains, simplifying the processes required to usher in the next iteration of the internet.

“Figment has had an exceptional year marked by 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.” said Lorien Gabel, Cofounder and CEO at Figment in a blog last week

The $110 million raise caps off a highly successful period for the company. Key achievements in 2021 include:

A recruiting and talent development drive that increased headcount to 118 with zero employee turnover.

Surpassing $7.5B in digital assets staked to its infrastructure across 50+ supported networks.

The launch of Figment Capital, the investment arm of the firm.

Joined the Pyth data oracle network as a core contributor and partner. 

Joined The Graph ecosystem as one of the three core protocol development teams.

Binance Labs is a major VC and has invested in Figment (Source)

What is Figment?

Figment’s purpose is to build a better Internet by increasing usage of the next generation of Proof of Stake blockchains. These efficient blockchains give people greater control of their data, more privacy, and increase financial inclusion. By eliminating intermediaries they also limit the power of centralized data monopolies, rent seeking institutions and anti-social algorithms. Figment helps investors to stake their tokens; earn yield and participate in securing the blockchain.

Source : bsc.news

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