Crypto Staking Firm Figment Raises $110m in Funding Led by Thoma Bravo

Dec 21, 2021 | News

Figment – a company that provides blockchain infrastructure and protocol staking – announced a $110 million Series C fundraise at a $1.4bn post-money valuation. The investment was led by Thoma Bravo – an American private equity and growth capital firm.

Apart from Thoma Bravo, the funding round was supported by many other giants in the financial field. These include Counterpoint Global (one of Morgan Stanley’s equity teams), Binance Labs, Avon Ventures, Mirae Asset, Bitstamp, CMS Holdings, B Capital Group, and more.

Figment aims to provide more accessible Internet by employing Proof of Stake (PoS) blockchain technology. The company is among the leaders in building the Web3 ecosystem and will use the $110 million to support the adoption, growth, and long-term success of the new iteration of the Internet that incorporates decentralization.

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Lorien Gabel – Co-Founder and CEO of Figment – said his firm has had an “exceptional” year mainly because PoS has become mainstream and thus transformed the finance sector and added: “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 Web3 ecosystem.”

Gabel claimed that “tons of experienced engineers” have recently jumped from traditional software into the crypto space. He revealed many of these people have joined Figment’s team and helped create an “amazing Web3 native organizational culture.”

Tre Sayle – a Partner at Thoma Bravo – commented on the funding round, as well, saying, “We are thrilled to be partnering with the talented Figment team.” The exec described Figment as a company focused on building the next generation of blockchain technology, which has an entrepreneurial culture.

Source: Crypto Potato

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