Ethereum blockchain developer ConsenSys announced on Wednesday that it has raised $200 million in a recent funding round. The company has reportedly hit a valuation of $3.2 billion, according to its press release.
ConsenSys is a US-based company engaged in the development of next-generation apps, the construction of financial infrastructure, and decentralized Web services for companies, developers, and the general public around the world.
In its latest funding round, the company saw investments from several new investors including Marshall Wace, Third Point, ParaFi Capital, and Think Investments. The mentioned investors have joined the likes of Animoca Brands, Coinbase Ventures, and HSBC who participated in the company’s $65 million raised in March 2021.
Joe Lubin, CEO and Founder of ConsenSys, reported that the funds raised would be used in the development of MetaMask, one of ConsenSys most prominent projects. MetaMask is a crypto wallet that lets users hold and manage digital tokens. The wallet has over 21 million active users, a figure that has increased 38 times since last year.
Lubin, who is also the co-founder of Ethereum, said:
“The paradigm shift to a world running on decentralized protocols is in full gear. The pace of adoption is now so rapid that we’ve more than doubled many of our core KPIs since this deal was struck over the summer.”
“As our technology crosses into the mainstream, we are already seeing the transformation of how larger and larger cohorts of builders, users, artists, and enterprises live and work,” he added.