Coinbase, a San Francisco, CA-based cryptocurrency marketplace, raised $100M in Series D Funding.
The round was led by Institutional Venture Partners, with participation from Spark Capital, Greylock Partners, Battery Ventures, Section 32 and Draper Associates.
The company intends to use the funds to:
– increase the size of its engineering and customer support teams to improve the customer experience;
– open a GDAX office in New York City, further investing in the ability to serve institutions and professional traders, and
– invest in Toshi, to accelerate digital currency’s shift from speculative investment to global payment network.
Coinbase has now exchanged over $25 billion USD of digital currency for its customers.
Founded in 2012 by Brian Armstrong, CEO, Coinbase is one of the world’s leading digital currency companies with support for Bitcoin, Ethereum and Litecoin in 32 countries. Today it is a portfolio of three products:
– Coinbase, a popular retail exchange for digital currency,
– GDAX, a popular exchange for institutions and professional traders in the U.S., and
– Toshi, a browser for the Ethereum network.