Ethereum Studio ConsenSys Raises $65 Million
New York, NY, April 13, 2021 – ConsenSys, the Brooklyn-based Ethereum software developer and incubator, announced the final close of its $65 million formation round to accelerate the convergence of decentralized finance (DeFi) and Web3 applications on Ethereum with enterprise blockchain infrastructure.
Global financial services firms J.P. Morgan, Mastercard, and UBS invested alongside leading blockchain companies, including Protocol Labs, the Maker Foundation, Fenbushi, The LAO, and Alameda Research. Additional investors include CMT Digital, Greater Bay Area Homeland Development Fund, SNZ Holding, NGC Ventures, Quotidian Ventures, and Liberty City Ventures. Several funds invested with Ethereum-based stablecoins, DAI and USDC, as consideration.
The past year has been a period of strategic evolution and growth. The leading Ethereum company restructured to form ConsenSys, the core software business, and ConsenSys Mesh, the investment arm, incubator, and portfolio. ConsenSys also acquired Quorum from J.P. Morgan to deepen its commitment to and competitive position in the enterprise protocol ecosystem.
ConsenSys is now an integrated Ethereum software company with best-in-class products powering the blockchain developer and financial user experience: Codefi, Diligence, Infura, MetaMask, Truffle, and Quorum.
This product suite supports both public and private permissioned blockchain networks and will be supporting Layer 2 Ethereum networks and facilitating access to adjacent protocols like IPFS, Filecoin, and others. ConsenSys also contributes significantly to Ethereum 2.0.
“When we set out to raise a round, it was important to us to patiently construct a diverse cap table, consistent with our belief that similar to how the web developed, the whole economy would join the revolutionaries on a next generation protocol,” said Joseph Lubin, Founder of ConsenSys and Co-founder of Ethereum. “ConsenSys’ software stack represents access to a new automated objective trust foundation enabled by decentralized protocols like Ethereum. We are proud to partner with preeminent financial firms alongside leading crypto companies to further converge the centralized and decentralized financial domains at this particularly exciting time of growth for ConsenSys and the entire industry.”
ConsenSys’ products are the primary points to access Ethereum for developers, enterprises, and consumers, making Web3 more accessible and useful. MetaMask counts over 3 million monthly active users across mobile and desktop.
More than 150,000 developers use Infura’s APIs, and millions of developers create and deploy smart contracts using Truffle. Its Protocols group which develops Hyperledger Besu and ConsenSys Quorum, along with ConsenSys Codefi, the firm’s commerce and finance application suite, are building Central Bank Digital Currencies (CBDCs) for six central banks.
To accelerate mainstream adoption of Web3, ConsenSys is focused on commercializing its industry leading platforms as distribution channels for leading DeFi protocols, catalyzing the convergence of traditional and decentralized finance. As an example, ConsenSys launched a token swap feature in the MetaMask wallet that enables users to access the largest selection of tokens at the most competitive prices, resulting in $2 billion in volume in decentralized exchange use.