Ethereum is awash in funding – The society ConsenSys continues to be at the forefront of network development Ethereum (ETH)despite recent snags with former employees. Anyway, the institutional investors do not hesitate for a second to bet big on the company founded by Joseph Lubin, which announces a new fundraising successful hands down.
ConsenSys is now worth more than $7 billion
The developer group of ConsenSysfounded in 2014, is particularly known in the cryptosphere for its wallet MetaMask and blockchain development software suite Infura. Its current CEO happens to be Joseph Lubinwho is also one of the co-founders of the network Ethereum with Vitalik Buterin.
In a press release published on March 15, 2022, ConsenSys announces that it has successfully completed a new round of Series D financing, which brought it back a trifle of $450 million of investment. His previous fundraising (series C), in November 2021, had already brought him $200 million.
With this influx of new money, ConsenSys is now valued at $7 billion. Led by the fund ParaFi Capitalthis financing also saw the participation of SoftBank Vision Fund 2, Microsoft, Anthos Capital, Sound Ventures, Temasek and C Ventures.
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A hiring of 600 new developers for Ethereum
According to the ConsenSys press release, this new financing should notably be used to “support the rapid expansion of MetaMask”. Its teams would indeed be working on a “major overhaul” of the crypto-portfolio by the end of 2022:
“I see ConsenSys as a broad and deep capability machine for the decentralized protocol ecosystem (…) This vision has resonated with our investors (…), which will allow us to execute powerful growth strategies. »
The other major announcement, made possible by these massive investments, is the recruitment of 600 new employees to massively strengthen its development force:
“Today, ConsenSys announced the closing of a $450 million funding round, bringing its valuation to $7 billion. If you would like to join us, we will be recruiting over 600 new employees worldwide over the next year. Check out our job vacancies and apply today! »
With those windfalls of institutional moneywe understand better why Joseph Lubin showed himself recently too optimistic for the crypto-asset sector. As the CEO of ConsenSys asserted, Bitcoin, Ethereum and their ilk have visibly reached a “point of no return” in their mass adoption.
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