Ledger, a Paris, France-based cryptocurrency and blockchain security provider, secured $7m in Series A funding.
The round was led by Maif Avenir with participation from Xange, Wicklow Capital, GDTRE, Libertus Capital, Digital Currency Group, The Whittemore Collection, Kima Ventures, BHB Network and Nicolas Pinto. In conjunction with the funding, Jean-Marc Willmann of MAIF joined Ledger’s board of directors.
The company, which has raised $8.5M in total funding, intends to use the funds to develop the sales, marketing, engineering and support teams through the recruitment of 20 new people and accelerate the launch of a new enterprise security product for cryptocurrencies.
Led by Eric Larchevêque (CEO), Nicolas Bacca (CTO), Joël Pobeda (COO), Ledger has developed a low-footprint crypto-embedded operating system built for Secure Elements and Secure Enclaves which enables full orchestration of code and systems directly from the secure core.
The company designs a line of products for the cryptocurrency and blockchain market including hardware wallets for consumers, server appliances for enterprise and embedded solutions for connected objects.
The flagship products are the Ledger Nano S and the Ledger Blue, hardware wallets securing cryptocurrencies and digital identities with more than 50,000 units sold in 130 countries.
The next enterprise grade cryptocurrency security solutions (multi-signature, multi-currency, time locked payments, etc.) will target marketplaces, hedge funds and financial institutions.