ConsenSys Raises $450M and Reveals Future Plans for MetaMask

ConsenSys sees its valuation rise to $7 billion

The company specializing in blockchain technology ConsenSysknown in particular for its famous MetaMask wallethas just closed a series D fundraising. 450 million dollars have been raised, thus increasing the valuation of the company over $7 billion.

The round table was led by the investment fund ParaFi Capital alongside groups like SoftBank Vision Fund 2, Anthos Capital, Sound Ventures, C Ventures, Temasek and Microsoft. Other participants in the previous round were also part of this new investment.

According to Joe Lubinthe CEO of ConsenSys, this new contribution will allow the company to acquire new tools to improve on all fronts:

“I see ConsenSys as a very broad-ranging machine for the decentralized protocol ecosystem, able to quickly capitalize on important new projects that emerge, such as developer tools, wallets, security audits, DeFi, NFTs, second layers (layer 2), DAOs and more. This vision has resonated with our cryptocurrency investors through a Series D round that will allow us to pursue exciting growth strategies. »

👉 Find our tutorial dedicated to the MetaMask digital wallet

Plans for MetaMask, but not only

Like its MetaMask wallet, ConsenSys likes to grow around the Ethereum blockchain (ETH). And for proof, all of this capital contribution will be transformed into Ethers inasmuch as ” cash strategy “.

For Joe Lubin, Ethereum is part of a large-scale paradigm shift. As such, the latter said that the next fundraising would aim to help its investors to Adopt Ether as primary currency.

The funding will also allow develop the MetaMask application on several axes. Initially, an in-depth graphic overhaul of the application is planned for the course of 2022, as well as the integration of a new system which will make it possible to extend the compatibility of the famous wallet.

These changes will build on last February’s acquisition of MyCrypto by ConsenSys to improve his safety and also to improve the user experience from one medium to another. At the same time, ConsenSys will benefit from this new capital injection to improve Infuraa solution that provides dedicated Ethereum blockchain APIs to developers.

Finally, in order to consolidate its internal structure, ConsenSys wants to grow from 700 to 1,000 employees by the end of the year.

So many new measures which will therefore be welcome, especially for MetaMask users whose number is constantly increasing. In fact, this one increased by 42% in a few months at the end of 2021thus increasing to 30 million, as recalled Ben Formanthe founder of ParaFi Capital:

“ConsenSys has established itself as one of the most important companies in the blockchain ecosystem. In particular with MetaMask, the gateway allowing more than 30 million users to access the possibilities of Web 3.0 and DeFi each month, making it one of the most widely used blockchain products in the world both by consumers and professionals. »

👉 To go further: NFTs platform Magic Eden raises $27 million to expand its services

Source: ConsenSys

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About the Author : Maximilien Prue


Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make the blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
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