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.

article-image

Pascal Gauthier, CEO of Ledger

share

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.”

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Pipe Network is a decentralized content delivery network (dCDN) that replaces the sparse, capital intensive data center footprint of traditional CDNs with a permissionless mesh of independent node operators. By orchestrating under-utilized resources that already exist at the edge, rather than purchasing or leasing thousands of servers, Pipe slashes capital intensity while letting supply expand autonomously in the places where bandwidth is scarcest and most expensive.

article-image

ETH’s “breakout marks a significant structural shift and clears the path towards…$4,000,” Kraken’s OTC desk noted

article-image

Fiscal dominance isn’t about interest rates and it isn’t about Trump, either

article-image

Firestarter Storage brings decentralized storage and delivery to Solana

article-image

After lengthy closing arguments on Wednesday, the case is now in the hands of 12 jurors

article-image

Analysts cite weak trading volume and regulatory progress as factors

article-image

Builders weigh in on Ethereum’s first decade and the decisions that will define its next one