The Series D round valued ConsenSys at over $7 billion.

Ethereum and Web3 focused software developer ConsenSys has raised $450 million in a Series D round led by ParaFi Capital with participation by Temasek, SoftBank Vision Fund 2, Microsoft, Anthos Capital, Sound Ventures, and C Ventures. Investors from Series C — Third Point, Marshall Wace, TRUE Capital Management, and UTA VC, United Talent Agency’s venture fund — also participated. (ConsenSys)

The funding comes as MetaMask, the self-custodial wallet by ConsenSys, garnered 30 million monthly active users, showing a growth of 42% in a mere four months. The wallet is actively used across the globe including in the United States, the Philippines, Brazil, Germany and Nigeria, for NFTs, DAOs, and DeFi.

In addition, the company’s product suite includes Infura, Quorum, Codefi, Truffle, Diligence and an NFT platform.

Infura is the leading Ethereum development platform, with 430,000 developers and in excess of $1 trillion in annualized on-chain ETH transaction volume supported through Infura’s Ethereum API.

Use of funds

The firm will use the proceeds of the latest round to:

• Convert them to ETH to rebalance the ratio of ETH to USD-equivalents in line with its treasury strategy
• Support the expansion of MetaMask with a major redesign scheduled for release later in 2022, as well as the roll out of a plug-in extensibility system that will allow integration with a wide variety of blockchain protocols and account security schemes
• Accelerate the global adoption of Infura’s development tool suite as well as the company’s efforts to drive NFT adoption
• Scale to over 1,000 employees by the end of 2022 from the current strength of 700.

“We believe ConsenSys’ ecosystem of simple to use, neutral, and secure Web3 products continues to foster unprecedented levels of engagement and we’re excited to help them take Web3 adoption to the next level,” said Neil Cunha-Gomes, investor for SoftBank Investment Advisers.

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Image credit: ConsenSys (Glassdoor)