French cryptocurrency and blockchain security firm Ledger has announced that it has secured $75 million in a Series B funding round, led by Draper Esprit.
The company will use the investment to significantly scale up its operations as demand for their products increases. Ledger has sold over a million cryptocurrency hardware wallets across 165 countries, and will be launching a new solution for financial institutions – which enables banks and hedge funds to manage their crypto assets.
Ledger was founded in 2014 by a team of eight who saw the potential of blockchain technology and the importance of securing it. The company has been growing at a fast pace since then and now employ 82 people in San Francisco, Paris and Vierzon.
The latest funding round was led by Draper Esprit, with additional funding from Draper Venture Network funds, including Draper Associates, Draper Dragon and Boost VC, as well as FirstMark Capital, Cathay Innovation, and Korelya Capital.
Eric Larchevêque, CEO at Ledger, explained: “We initially designed our Ledger hardware wallet as an enabler for the blockchain revolution. Three years later and with this Series B, we are reaching a significant milestone in our path to build a technological giant in the promising space of cryptocurrencies.
“These funds will be used to keep investing significantly in R&D while scaling our operations and deploying our teams globally. I am delighted to bring on board Draper Esprit and a truly global group of investors who will support the company as it grows rapidly.”
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