Blockchain infrastructure provider Figment raised $110 million in a Series C round led by software investment firm Thoma Bravo. The latest funding takes the firm’s valuation to $1.4 billion, Figment said in a press release on Monday.
- Other participants in the round were Morgan Stanley’s Counterpoint Global, Binance Labs, Mirae Asset, ParaFi Capital, Avon Ventures, Bitstamp, Franklin Templeton, among others.
- Figment will use the funding to accelerate its Web 3 growth and increase its headcount. Web 3 is the third generation of internet services which have been made possible by decentralized networks.
- The Series C follows a $50 million Series B round in August, which was led by institutional investors Senator Investment Group and Liberty City Ventures. Anchorage Digital, Galaxy Digital and 10T Ventures also participated in the Series B.
- Figment develops back-end systems and infrastructure that provide yield on tokens for Proof of Stake (PoS) blockchains.
Read more: Web 3 Is a Return to the Internet’s Wild Spirit