ConsenSys Raises $450 Million and Hits a Valuation of $7 Billion

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ConsenSys has recently raised $450 million in a Series D funding round led by venture capital company ParaFi Capital, the company has announced on its blog.

Other participants include Temasek, SoftBank Vision Fund 2, Microsoft, Anthos Capital, Sound Ventures, C Ventures, Third Point, Marshall Wace, True Capital Management, and United Talent Agency’s UTA VC venture fund.

The valuation of the company has hit $7 billion following the funding round.

The blockchain firm has reported it will convert the funds into Ethereum. This practice will be used in the next investment rounds “to rebalance the ratio of ETH and fiat”.

The company will use the funds to increase its staff by more than 600 employees, redesign the MataMask Web3 wallet and integrate various protocols, among other things.

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