Total amount raised
$23.1 Million
Latest funding date
08/01/2018
Location
SFOX has successfully raised funding over six rounds, with the latest being a Series B round. The platform is backed by 14 investors, including notable names like Plug and Play and Social Capital.
Keep reading to explore the intricacies of SFOX's fundraising journey and the investors backing this innovative platform.
What Is SFOX?
SFOX is a cryptocurrency prime dealer that caters to professional traders and institutional investors. The company provides a platform for trading various cryptocurrencies and aims to offer advanced trading solutions. It operates within the cryptocurrency, blockchain, and digital asset management industries.
Based in Los Angeles, California, SFOX has a team of 51-100 employees. The company is registered in the United States and has an affiliate regulated by the Wyoming Division of Banking. SFOX emphasizes deep liquidity, robust security, and the necessary infrastructure to maximize the potential of digital assets.
How Much Funding Has SFOX Raised?
- Seed Round
- Amount Raised: USD 120,000
- Date: July 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial platform.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: May 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the team.
- Convertible Note
- Amount Raised: Not publicly disclosed
- Date: September 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional capital for scaling operations.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: January 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and support growing user base.
- Series A
- Amount Raised: USD 23,000,000
- Date: August 2018
- Lead Investors: Social Capital, Tribe Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform, develop advanced security and risk management products, and support new markets.
- Series B
- Amount Raised: Not publicly disclosed
- Date: March 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the platform and enhance service offerings.
Total Amount Raised: USD 23,120,000
Current Valuation: Not publicly disclosed
Key Investors
- Plug and Play
- Details: Plug and Play is a venture capital firm that invests in various stages of startups. It is known for its extensive network and accelerator programs.
- Investment Focus Areas: Technology, Fintech, Health
- Notable Investments: Dropbox, PayPal, LendingClub
- Social Capital
- Details: Social Capital is a venture capital firm that focuses on technology companies. It aims to solve complex social problems through its investments.
- Investment Focus Areas: Technology, Healthcare, Education
- Notable Investments: Slack, Box, Yammer
- Tribe Capital
- Details: Tribe Capital is a global venture capital investment firm focused on Internet and software investments. It leverages data and technology to partner with founders solving hard problems.
- Investment Focus Areas: Internet, Software, Technology
- Notable Investments: Not specified
- Y Combinator
- Details: Y Combinator is a startup accelerator that has funded over 2,000 startups. It provides seed funding, advice, and connections to help startups grow.
- Investment Focus Areas: Early-stage startups, Technology, Various sectors
- Notable Investments: Dropbox, Airbnb, Reddit
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm focused on impactful technology investments. It was founded by Vinod Khosla, co-founder of Sun Microsystems.
- Investment Focus Areas: Technology, Healthcare, Clean Energy
- Notable Investments: Not specified
What's Next for SFOX?
As SFOX looks to the future, the opportunities for growth are substantial. The company aims to expand beyond its role as a prime dealer to become a comprehensive institutional crypto asset management platform. This includes developing advanced security and risk management products and accessing new markets. With a $22.7 million Series A funding round and a 12-fold increase in its client base, the potential for further expansion is significant.
Future fundraising opportunities seem promising, given the growing institutional interest in cryptocurrency and the need for integrated order books to facilitate high-volume trading. However, SFOX will need to navigate the fragmented cryptocurrency market and ensure sufficient liquidity to meet the unique needs of institutional investors. Building and maintaining advanced security and risk management products will also be crucial challenges.
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