Figment, a company providing blockchain infrastructure and protocol staking, announced a $110m Series C fundraise with a $1.4billion post-money valuation. Thoma Bravo, an American growth capital and private equity firm, led the investment.
Web3 Ecosystem: Figment to Work
Thoma Bravo was not the only one who supported the financing round. They include Counterpoint Global, one of Morgan Stanley’s equity groups, Binance Labs and Avon Ventures. Mirae Asset was also present. Bitstamp, CMS Holdings and B Capital Group were among others.
Figment uses Proof of Stake (PoS), blockchain technology to make the Internet more accessible. The Web3 ecosystem is a leader in the company’s development. Figment will use $110 million to help the adoption, growth and long-term success for the new version of the Internet, which includes decentralization.
Lorien Gabel, Co-Founder and CEO at Figment, said that his company has enjoyed an “exceptional year” mainly due to PoS becoming mainstream and transforming the finance sector.
“Figment is one of the most respected and trusted platforms in the Web3 ecosystem because of the quality of its Series C round investors.”
Gabel stated that many experienced engineers have recently moved from traditional software to the crypto space. Many of these individuals have been part of Figment’s team, and they helped to create an “amazing Web3 Native organizational culture.”
Tre Sayle, a Partner at Thoma Bravo, commented on the funding round as well. He said, “We are delighted to be partnering avec the talented Figment staff.” The exec described Figment, as a company that is focused on developing the next generation blockchain technology and has an entrepreneurial culture.
Other investments oriented towards Web3
Seven Seven Six, a venture capital company owned by Alexis Ohanian, Reddit’s co-founder, teamed up with Polygon to launch a $200m fund to support developments in the Web3 sector. This initiative will support protocols that “improve human connectivity online.”
Ohanian spoke out about the investment and said that Web3 is still very early in its development and that the “most obvious opportunities” right now are in social media and gaming.
The initiative will accomplish this, with a special focus on games properties and social media platforms built upon Polygon’s scalable infrastructure. He said that Polygon has already been used by some of our best product founders to build on Polygon. “I’m excited for Seven Seven Six, Polygon and Polygon” he added.
Marla Brooks – Financial Analysis
My name is Marla Brooks, and I am the mainstream behind the”observednews.com” for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.