Coinbase raises $100m in Series D funding
Written by Anthony Strzalek
US-based digital currency exchange Coinbase has raised $100 million in a Series D funding round led by IVP.
Other participants in the financing round included Spark Capital, Greylock Partners, Battery Ventures, Section 32 and Draper Associates.
Coinbase has now exchanged over $25 billion of digital currency for customers since its inception back in 2012.
The latest investment will help the firm increase the size of its engineering and customer support teams in a bid to improve the customer experience.
Coinbase will also use the funds to open a new Global Digital Asset Exchange (GDAX) office in New York City and will invest in Toshi – an open source browser for the Ethereum Network – to help accelerate digital currency’s shift from speculative investment to global payment network.
In a blog posting, Coinbase stated: “We’re fortunate to be working with IVP, one of the premier later-stage venture capital and growth equity firms in the United States.”