Bitcoin hardware wallet manufacturer Ledger has raised $380 million, giving it unicorn startup status at a $1.5 billion valuation.
Ledger, a hardware wallet manufacturer for bitcoin and other cryptocurrencies, has announced the completion of a $380 million series C investment round led by cryptocurrency-focused investment fund 10T Holdings, whose CEO will now be joining the Ledger board. With this fundraising round, Ledger has an implied $1.5 billion valuation, conferring it the status of a “unicorn” startup.
“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,” said Ledger’s CEO Pascal Gauthier, per the announcement. “This industry is fast becoming mainstream and reshaping the entire financial sector and beyond. 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.”
According to the announcement, Ledger has sold more than three million hardware wallets in 190 countries, securing an estimated 15% of all cryptocurrency assets globally. With this series C round, the company plans to expand its offerings to encompass more facets of the entire cryptocurrency ecosystem — something 10T Holdings sees “a tremendous future” for.
The round also included investment from Draper Associates, Tekne Capital, Uphold Ventures, Rosemoor Capital, Libertus Capital II and Felix Capital, among other investors.
Founded in 2014, Ledger is a hardware wallet manufacturer headquartered in Paris that serves retail and institutional clients in 200 countries. The company previously raised $8.3 million in a series A round in March 2017 and $75 million in a series B round in January 2018.