Ledger, a France-based cryptocurrency storage technology provider backed by several corporate investors, closed a $380m series C round today that valued it at over $1.5bn.
The round was led by growth equity fund 10T Holdings and included Financière Agache, the investment group formerly known as Groupe Arnault, as well as Cathay Innovation, Korelya Capital, Wicklow Capital, Tekne Capital and Felix Capital.
The investors were rounded off by Uphold Ventures, Digital Currency Group (DCG), Inherent, iAngels Technologies, Draper Esprit and its Draper Associates and Draper Dragon affiliates.
Founded in 2014, Ledger provides a range of digital wallets used to store multiple types of cryptocurrencies on one device. It also operates Ledger Live, a cryptocurrency management platform that enables users to manage, buy, lend and exchange tokens and coins.
The company claims its platform secures about 15% of all cryptocurrency assets globally. It will use the funding to further develop its hardware products and services in addition to strengthening its operating system.
Ledger has raised more than $466m of overall funding. Consumer electronics manufacturer Samsung invested $2.9m in the company in April 2019 at a $290m valuation.
Draper Esprit led the company’s $75m series B round, in 2018, which was backed by Draper Associates, Draper Dragon, Boost VC, FirstMark Capital, Cathay Innovation, Korelya Capital, CapHorn Invest, GDTRE and DCG.
Maif Avenir, the corporate venturing arm of insurance firm Maif, participated in a $7m series A round for Ledger in 2017 that included Xange, GDTRE, DCG, Whittemore Collection, Wicklow Capital, Libertus Capital, Kima Ventures, BHB Network and Nicolas Pinto.
Xange had led the company’s $1.5m seed round, which also featured Alain Tingaud Innovations. Its existing investors include insurer MACSF, IT consulting firm Cygni, financial cooperative Crédit Agricole, blockchain app developer Animoca Brands and cryptocurrency services provider Crypto.com’s VC fund, Crypto.com Capital.
Rosemoor Capital, Inherent Private Opportunities, Ascendant, Marcy Venture Partners, Loire Centre Capital, Alliance Entreprendre, Cité Gestion, Global Founders Capital, Fabric Ventures, The Maze Group, Cardinal Capital, Warburg Serres and private investor Scott Galloway are also Ledger backers.