Ledger secures $75m in Series B funding led by Draper Esprit to scale operations
The cryptocurrency security company has closed a Series B round backed by an international syndicate to support global expansion.
≈ £54.0M at $1 = £0.7198 on 18 Jan 2018
Ledger builds hardware wallets and security infrastructure for cryptocurrencies and blockchain applications. The firm operates globally with offices in Paris, San Francisco, and Vierzon.
Ledger has raised $75m in a Series B funding round led by Draper Esprit to scale its operations globally. The financing also saw participation from FirstMark Capital, Cathay Innovation, Korelya Capital, and various Draper Venture Network funds including Draper Associates, Draper Dragon, and Boost VC. Existing backers CapHorn Invest, GDTRE, and Digital Currency Group also contributed to the round.
The capital will be directed towards research and development, scaling operations, and expanding the team internationally as demand for cryptocurrency security products increases. Ledger has sold over a million hardware wallets across 165 countries and recently introduced the Ledger Vault for institutional clients such as banks and hedge funds.
From the founder
"It has been a pleasure working with Ledger, initially as seed investor and now as President. The size of the opportunity in a growing, fascinating market and the team of truly extraordinary individuals persuaded me to leave life as an investor and to re-join the corporate world. Growing this team with additional talents will be one of our main goals in the next few years."
Pascal Gauthier
President at Ledger
Investor perspective
"Blockchain, as evidenced by crypto assets, is a truly revolutionary technology. Security will be paramount to its success and we believe that Ledger has built the world’s best security platform to manage private keys for all blockchain and crypto asset applications. This is a global company for a global industry and we have built an international syndicate through the Draper Network to support the team in their huge ambition. We look forward to partnering with Eric, Pascal and the talented team at Ledger."
Simon Cook
CEO, Draper Esprit
Use of funds
- 01Fund research and development
- 02Scale operations
- 03Expand into international markets
Investors
Simon Cook
Draper Esprit
Tim Draper
Draper Associates
Draper Dragon
Boost
Matt Turck
FirstMark
Cathay Innovation
Korelya Capital
CapHorn Invest
GDTRE
Digital Currency Group