Ledger simply invoked a superb Line B round of $75 million( EUR6 1 million ), led by Draper Esprit. The startup previously elevated a$ 7 million round last year. But the cryptocurrency mania probably originated it easy to raise more money.
If you have more than a little bit of fund in cryptocurrencies, probabilities are you’ve been hearing Ledger purses. The French startup has been designing some of the most secure equipment billfolds out there. If you don’t wish to get hacked, get a Ledger wallet.
FirstMark Capital, Cathay Innovation, Korelya Capital and existing investors CapHorn Invest, GDTRE and Digital Currency Group also invested in today’s round. XAnge remained in the capital city. Ledger says that the round was oversubscribed and that it is the largest Sequence B round in a cryptocurrency startup when you omit ICOs.
The company “ve sold” thousands and thousands of hardware pocketbooks in 2017. While this sounds affecting, it’s even more impressive when you equate it to 2016. Ledger merely exchanged 30,000 pouches in 2016 — it represents a 33 x year-over-year increase.
And this is key to understanding Ledger’s wallet. Few people foresaw the cryptocurrency thunder of 2017. That’s why Ledger has been struggling with keeping up with line-ups. When you buy a Ledger Nano S today, you’re going to see that it is going to be delivered in March 2018.
So the company is going to use today’s funding round to ramp up product and solve those back-order editions. It’s important to be recognized that Ledger is already productive. Ledger currently has 82 hires in Paris, San Francisco, and Vierzon.
The company also plans to opening the Ledger Vault, a security answer for banks, hedge funds and family roles that want to invest in cryptocurrencies.
“For the billfolds, we incorporated our operating system in a fasten chip, and for the Vault, we are integrating it in a hardware security module, ” Ledger co-founder and CEO Eric Larcheveque told me. “The idea behind it is to provide added the characteristics and business, such as multiaccounts, multisignature or timelocks.”
Ledger is the equivalent of a gold select producer. When there’s a gold rush, the one selling the gold picks end up with more fund than beings looking for gold.