- The latest raise values ConsenSys at over $7 billion USD, more than doubling its valuation since its $200 million Series C raise in November 2021.
- In January, MetaMask exceeded 30M monthly active users accessing Web3 applications, a 42% increase in 4 months.
- 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.
- Funding will support the hiring of over 600 new employees globally, and continued reinvestment in development and tooling for the extended Ethereum ecosystem.
ConsenSys has been a pioneer in creating the foundational software for the next wave of the internet, Web3. Our mission is to unlock the collaborative power of communities by making DAOs, NFTs, and DeFi universally easy to use, access, and build on.
Consensys entered India in 2018 with opening an office in Delhi to build a “very strong” ethereum blockchain-developer community. The blockchain firm then also signed an agreement with NITI Aayog, the policy think tank of Indian government.
The acceleration of Web3 adoption globally is also illustrated by the rise of leading self-custodial wallet, MetaMask, which now supports more than 30 million Monthly Active Users (MAUs), growing 42% in only four months. A global user base relies on MetaMask to mint and collect NFTs, join DAOs, and participate in DeFi protocols. The United States, the Philippines, Brazil, Germany and Nigeria represent some of MetaMask’s most active markets.
All proceeds from the round will be converted to ETH to further build ConsenSys’ “ultra sound money” position as a rebalance to its ETH to fiat ratio in line with ConsenSys’ treasury strategy. ConsenSys has long maintained a significant treasury of ETH, stablecoins and other crypto tokens, and is actively using its own financial infrastructure, such as MetaMask Institutional and Codefi Staking, to put these assets to work in DeFi protocols and via staking in anticipation of Ethereum’s upcoming merge to Proof of Stake.
Joseph Lubin, Founder and CEO of ConsenSys said, “I think of ConsenSys as a broad and deep capabilities machine for the decentralized protocols ecosystem, able to rapidly capitalize at scale on
fundamental new constructs that emerge, such as developer tooling, wallets, security audits, DeFi, NFTs, Layer-2 scaling, DAOs, and more. This view has resonated with our crypto native and growth investors in a Series D that will enable us to execute exciting growth strategies. This round takes in digital assets as well as fiat and converts all immediately to ETH. Next round will be our ‘Series ETH’ where we will assist investors in getting fully crypto native and contributing ETH as a symbol of and commitment to the ongoing paradigm shift.”
Funding will also support the rapid 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. This roadmap expansion also builds on ConsenSys’s recent acquisition of MyCrypto, which will enable MetaMask to bolster its industry-leading security infrastructure and create a cohesive user experience across desktop, mobile, extension, and browser wallets.
Funding will be used to accelerate the global adoption of Infura’s development toolsuite as well as ConsenSys’s efforts to drive NFT adoption for artists, content creators, brands, intellectual property owners, game publishers, and sport leagues.
With nearly 700 full time employees at present, ConsenSys’ hiring will surge this year as it is on track to scale to over 1,000 employees by the end of 2022. ConsenSys maintains a core objective to be an industry leader when it comes to diversity, equity and inclusion, partnering with organizations like Work180, CryptoChicks and the Black Women Blockchain Council. Since September 2020 ConsenSys has increased gender balance in the workforce from 19% to 25% as of December 2021. Its belonging scores also continue to trend up, reaching 91% in the latest survey. ConsenSys is proud to be a major driver of the transformation to the “age of community."
“ConsenSys has emerged as one of the most important companies in the blockchain space,”said ParaFi Capital Founder and Managing Partner, Ben Forman. “In particular, Metamask is the gateway for over 30 million users to access web3 and DeFi applications every month, making it one of the most widely used blockchain products in the world for consumers and businesses. As a long-time power user of ConsenSys’ products and services, ParaFi is thrilled to be an investor and thought partner as the company continues to operate at the forefront of decentralized infrastructure."
Neil Cunha-Gomes, investor for SoftBank Investment Advisers said, “We’re delighted to partner with Joe and the team in their mission to power access to the decentralized web. We believe ConsenSys’ ecosystem of simple, 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.
About ConsenSys
ConsenSys is a leading Ethereum and decentralized protocols software company. We enable developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. Our product suite, composed of Infura, Quorum, Codefi, MetaMask, Truffle, Diligence and our NFT platform, serves millions of users, supports billions of blockchain-based queries for our clients, and has handled billions of dollars in digital assets. Ethereum is the largest programmable blockchain in the world, leading in business adoption, developer community, and DeFi activity. On this trusted, open source foundation, we are building the digital economy of tomorrow. To explore our products and solutions, visit http://consensys.net/.
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