.png)
Total amount raised
$23M
Latest funding date
2025-03-21
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.
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: Not publicly disclosed
- Date: May 2014
- Lead Investors: Y Combinator (accelerator/incubator)
- 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: USD 120,000
- Date: August 2014
- Lead Investors: Boost VC, Plug and Play
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the team.
- Debt / 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: Blockchain Capital (participant)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and support growing user base.
- Series A
- Amount Raised: USD 22,700,000
- Date: August 2018
- Lead Investors: Tribe Capital, Social Capital
- Participants: Khosla Ventures, Blockchain Capital, Y Combinator, DHVC, Upside Partnership, SV Angel, DCG, Mark Britto, Nathan Blecharczyk
- 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–April 2025
- Lead Investors: Plug and Play (per Crunchbase; 1 investor listed)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the platform and enhance crypto and stablecoin infrastructure services.
Total Amount Raised: At least USD 22,820,000 based on disclosed funding (Series B amount undisclosed).
Current Valuation: Not publicly disclosed
Key Investors
- Plug and Play
- Details: Plug and Play is a global venture capital firm and startup accelerator known for its extensive network. It is listed as an investor in SFOX's Series B round per Crunchbase.
- 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 co-led SFOX's Series A round alongside Tribe Capital.
- 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 co-led the SFOX Series A round with Arjun Sethi as the lead partner.
- 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 participated in both SFOX's early Seed round and Series A.
- 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, and participated in SFOX's Series A.
- 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.
Use Clay to Get Funding Data
Sales professionals, leverage Clay's platform to access comprehensive fundraising data on companies like SFOX and gather other critical business insights. Sign up for free to start unlocking valuable information today.
