Total amount raised
$83.5 Million
Latest funding date
1/1/2018
Location
Ledger has successfully raised funding through 9 rounds, with the latest being a Secondary Market round. The company is backed by 64 investors, including IPOSharks and Molten Ventures.
Ledger offers a range of hardware wallets and a comprehensive platform for managing crypto assets, known for its industry-leading security and ease of use. Keep reading to explore the intricacies of Ledger's fundraising journey and the investors backing this innovative platform.
What Is Ledger?
Ledger, based in Paris, Ile-de-France, France, specializes in providing security and infrastructure solutions for critical digital assets. The company operates in the cryptocurrency, cyber security, infrastructure, and SaaS industries.
With an employee count ranging from 501 to 1000, Ledger is known for its industry-leading security features and ease of use. The company offers a range of hardware wallets designed to protect and manage digital assets for both consumers and institutional investors.
How Much Funding Has Ledger Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: March 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and establish the company.
- Seed Round
- Amount Raised: EUR 1,300,000
- Date: February 2015
- Lead Investors: XAnge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund early-stage development and market entry.
- Grant
- Amount Raised: EUR 1,400,000
- Date: September 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support research and development activities.
- Series A
- Amount Raised: USD 7,000,000
- Date: March 2017
- Lead Investors: MAIF Avenir
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market reach.
- Series B
- Amount Raised: USD 75,000,000
- Date: January 2018
- Lead Investors: Molten Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and increase production capacity.
- Series Unknown
- Amount Raised: USD 2,900,000
- Date: April 2019
- Lead Investors: Samsung Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To integrate advanced security features and expand partnerships.
- Series C
- Amount Raised: USD 380,000,000
- Date: June 2021
- Lead Investors: 50T Funds
- Valuation at Round: USD 1.5 billion
- Motivation Behind the Round: To accelerate growth and expand product lines.
- Series C Extension
- Amount Raised: USD 108,000,000
- Date: March 2023
- Lead Investors: Molten Ventures
- Valuation at Round: USD 1.41 billion
- Motivation Behind the Round: To improve user experience and expand services.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: June 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Total Amount Raised: USD 574,300,000. Current Valuation: USD 1.41 billion.
Key Investors
- Molten Ventures
- Details: Molten Ventures is a venture capital firm that invests in high-growth technology companies. They have been a significant backer of Ledger, participating in multiple funding rounds.
- Investment Focus Areas: Technology, Innovation, High-growth startups
- Notable Investments: Trustpilot, Revolut, Graphcore
- 10T
- Details: 10T is a growth equity firm that invests in private companies operating in the digital asset ecosystem. They led Ledger's Series C funding round in 2021.
- Investment Focus Areas: Digital assets, Blockchain technology, Cryptocurrency
- Notable Investments: Kraken, Deribit, Figure
- True Global Ventures
- Details: True Global Ventures is a global venture capital firm that invests in serial entrepreneurs in the technology sector. They joined Ledger's Series C extension round in 2023.
- Investment Focus Areas: Technology, Blockchain, Digital assets
- Notable Investments: Animoca Brands, Ledger, The Sandbox
- Digital Finance Group
- Details: Digital Finance Group is an investment firm focused on blockchain and digital assets. They participated in Ledger's Series C extension round in 2023.
- Investment Focus Areas: Blockchain, Digital assets, Cryptocurrency
- Notable Investments: Amber Group, Bloq, Ledger
- VaynerFund
- Details: VaynerFund is a venture capital fund founded by Gary Vaynerchuk, focusing on early-stage investments. They participated in Ledger's Series C extension round in 2023.
- Investment Focus Areas: Early-stage startups, Technology, Digital innovation
- Notable Investments: Resy, Empathy Wines, Triller
What's Next for Ledger?
Ledger stands at the cusp of significant opportunities, driven by the increasing demand for secure cryptocurrency storage solutions and the growing interest in DeFi and NFTs. With over six million devices sold and securing more than 20% of the world's cryptocurrencies, the company is well-positioned to expand its hardware wallet sales and develop enterprise solutions for cryptocurrency asset management. The introduction of new products like the Ledger Stax and enhancements to the Ledger Live platform further solidify its market presence.
Future fundraising opportunities appear promising, given the successful Series C extension and the involvement of both existing and new investors. These funds will likely be used to enhance user experience, improve onboarding systems, and expand services such as buying, swapping, and earning yield on crypto. The company's growth trajectory suggests potential for additional funding rounds to support its ambitious plans.
However, Ledger faces challenges, including ensuring the security of its devices against sophisticated attacks and maintaining consumer trust. The volatile macroeconomic conditions and the competitive landscape in the crypto and NFT markets also pose significant hurdles. Despite these challenges, Ledger's resilience and adaptability position it well for future growth and innovation in the digital asset security space.
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