Ledger Increases Implied Valuation to $1.5 Billion After Series C Funding

The Paris-based company plans to use the funding for its proprietary operating system, potential DeFi solutions for new transaction systems and innovation in their hardware products.

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Pascal Gauthier, CEO of Ledger

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key takeaways

  • Ledger secures approximately 15% of all cryptocurrency assets
  • Ledger raised $75 million in a Series B round in January 2018

Ledger, a hardware wallet-maker for crypto holders, announced a whopping investment of $380 million in Series C funding. This brings the company at an implied valuation of $1.5 billion.

Ledger, founded in 2014, secures approximately 15% of all cryptocurrency assets, the company’s press release disclosed on Thursday morning. 

The Paris-based company said it has “ambitious plans” to use its funding for its proprietary operating system, potential DeFi solutions for new transaction systems and innovation in their hardware products. 

CEO Pascal Gauthier said that the Series C announcement “marks the transition of Ledger from the leading digital asset security company to becoming the secure gateway to the entire digital asset ecosystem.”

Ledger previously raised $75 million in a Series B round in January 2018 and $8.3 million in a Series A round in March 2017. 

Ledger’s Series C funding round was led by digital asset fund 10T Holdings. Other noteworthy investors include: Cathay Innovation, Draper Esprit, Draper Associates, Draper Dragon, DCG, Korelya Capital and Wicklow Capital. 

“We believe Ledger is the premier security company and premier brand name in the cryptocurrency/blockchain space,” 10T Holdings CEO Dan Tapiero said in Ledger’s press release. “We see a tremendous future for its new lines of business and expect it to become one the very few dominant firms in the ecosystem.”

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