Ledger, the cryptocurrency security and infrastructure company, has raised a $380-million Series C fundraising round, which gave the company a valuation of $1.5 billion.
It has been reported that Ledger’s Series B round investors Cathay Innovation, Draper Associates, Draper Dragon, Draper Esprit, DCG, and Wicklow Capital attended the new fundraising.
However, Tekne Capital, Uphold Ventures, Felix Capital, Inherent, Financiere Agache (Groupe Arnault), and iAngels Technologies were the new investors.
Pascal Gauthier, the CEO of Ledger, said that the Series C investment round would transform Ledger from a digital asset security company to a secure gateway to the entire digital asset ecosystem.
“This industry is fast becoming mainstream and reshaping the entire financial sector and beyond.”
The report said that Ledger will use the $380 million for developing new products and adding decentralized finance solutions to Ledger Live, the company’s wallet software. The company is also looking to strengthen its Ledger Enterprise Solutions, a cloud-based digital asset custody service. As digital assets are becoming more mainstream, Ledger expects the assets held on its products will grow in volume.
The company wants to position itself as a secure gateway to the ecosystem as it diversifies to include nonfungible tokens, real estate, and other blockchain-based forms of value.
Thus, Ledger experienced a major data breach in December 2020 that caused a leak of over 270,000 Ledger customers’ personal information. The leak also included 1 million emails of Ledger wallet owners and customers that were signed up to the company’s newsletter service.