Digital Assets: Ledger, The Hardware Wallet Maker For Crypto, Nabs $380M
The Series C round vaulted Ledger into unicorn status with a valuation of $1.5 billion.
Ledger, the Paris-based manufacturer of hardware wallets that hold cryptos including bitcoin, announced today the close of its Series C funding of $380 million led by 10T Holdings. The round gave Ledger an implied valuation of more than $1.5 billion, and saw participation by existing investors including Cathay Innovation, Draper Esprit, Draper Associates, Draper Dragon, DCG, Korelya Capital, and Wicklow Capital. New investors included Tekne Capital, Uphold Ventures, Felix Capital, Inherent, Financière Agache (Groupe Arnault), and iAngels Technologies. (BusinessWire)
The startup previously raised $8.3 million in a Series A round in March 2017 and $75 million in a Series B round in January 2018.
Dan Tapiero, Founder and CEO of 10T Holdings, will join the company’s board.
Ledger is the wallet of choice globally
- sold more than 3 million hardware wallets in 190 countries to date
- secures an estimated 15% of all cryptocurrency assets globally
- has more than 1.5 million monthly users on Ledger Live, its secure cryptocurrency management platform
“This 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. This industry is fast becoming mainstream and reshaping the entire financial sector and beyond,” said CEO Pascal Gauthier. “Our products are designed to give users maximum control over their digital assets and provide unparalleled protection against cyber-attacks. We are well-positioned to become the secure gateway to the digital asset world with the potential to integrate our services into nearly every feature of the digital asset ecosystem.”
Use of funds
Ledger will use the funding to further develop its products and endow Ledger Live with new functionalities such as Decentralized Finance solutions.
Ledger will also invest in its proprietary Operating System which runs across all of Ledger’s products and services, so that it can support the seamless integration of new third-party services.
It also plans to hire 300 new employees.
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