On Tuesday, ConsenSys, the leading software company for Ethereum and decentralized protocols with product suites such as MetaMask, Infura and Truffle, announced announced the closing of a $450 million Series D financing round led by ParaFi Capital. Notable new investors included Temasek, SoftBank Vision Fund 2, Microsoft, Anthos Capital, Sound Ventures and C Ventures. The deal more than doubles its valuation since the company’s $200 million Series C raise in November 2021.
Proceeds from the round will be partially converted to Ether (ETH) to rebalance the ratio of ETH to US dollar equivalents in ConsenSys’ treasury. The company actively seeks to use its own financial infrastructure to generate returns on such assets in decentralized finance (DeFi), protocols and via strike. The proceeds will also support the expansion of MetaMask, with a major redesign slated for release later in 2022 and the rollout of a plugin extensibility system that allows integration with a wide variety of blockchain protocols and account security schemes.
In January, MetaMask surpassed 30 million monthly active users, representing a 42% increase in four months. The wallet allows users to collect coins and non-replaceable tokens, participate decentralized autonomous organizations and participate in DeFi protocols. Meanwhile, more than 430,000 developers use the Ethereum development platform Infura. The Ethereum API now supports over $1 trillion in annualized on-chain ETH transaction volume.
Joseph Lubin, founder and CEO of ConsenSys, commented on the development:
“I see ConsenSys as a machine with broad and deep capabilities for the decentralized protocol ecosystem, able to quickly take advantage of fundamental new constructs that emerge at scale. […] This vision has resonated with our crypto native and growth investors in a Series D that will enable us to execute powerful growth strategies.
Today, @ConsenSys announced the closing of a $450 million USD financing round, bringing the valuation to $7 billion USD. If you are interested in joining us, we will be hiring more than 600 new employees worldwide in the coming year. Check out our open positions and apply today!
— Dror Avieli (@avieli) March 15, 2022