ConsenSys, the NYC-based developer of foundational software for Web3 (and MetaMask) wallet providers, closed a $450m USD SeriesD financing round. This brings its value to more than $7 billion USD.
The round was led by ParaFi Capital, joined by new investors including Temasek, SoftBank Vision Fund 2, Microsoft, Anthos Capital, Sound Ventures, and C Ventures and existing backers Third Point, Marshall Wace, TRUE Capital Management, and UTA VC, United Talent Agency’s venture fund.
All Proceeds from the round will be converted to ETH to rebalance the ETH to USD-equivalents ratio in line with ConsenSys’ treasury strategy. The company has a substantial treasury consisting of ETH, stablecoins, and other crypto tokens. It is using its own financial infrastructures such as MetaMask Institutional or Codefi Staking to put these assets into use via DeFi protocols and through staking.
The fund will also help to expand MetaMask, with a major redesign due for release in 2022. Also, the rollout of a plug-in extensibility platform that will allow integration of many blockchain protocols and account safety schemes will be possible. This roadmap expansion also builds on ConsenSys’s recent acquisition of MyCrypto, enabling MetaMask to bolster its security infrastructure and create a cohesive user experience across desktop, mobile, extension, and browser wallets.
ConsenSys will also accelerate the global adoption of Infura’s development tool suite as well as its efforts to drive NFT adoption for artists, content creators, brands, intellectual property owners, game publishers, and sports leagues.
The company currently has 700 employees and will hire this year. It is on track for more than 1,000 employees by 2022.
Joseph Lubin, founder and CEO of ConsenSys, is the company’s chief executive officer. ConsenSys partners with organizations such as CryptoChicks, Work180, and Black Women Blockchain Council to achieve its core goal to be an industry leader in diversity, equity, and inclusion.