Figment Valuation, Funding & Investors

Figment is valued at $1.4B as of December 2021.

Last Figment valuation

$1.4B

Series C · Dec 2021

Last Figment funding round

$110M

Series C · Dec 2021

Cumulative funding Figment raised

$164M

across 4 funding rounds

Key investors in Figment

  • FJ Labs
  • Bonfire Ventures
  • Lemniscap
  • XDL Capital Group
  • Thoma Bravo
  • Liberty City Ventures

Figment Overview

About Figment

Figment is a staking-as-a-service provider delivering institutional-grade infrastructure for Proof-of-Stake blockchains. It supports over 40 protocols including Ethereum, Solana, Polkadot, and Cosmos, operating more than 50,000 validators globally. The Toronto-headquartered company serves exchanges, funds, and custodians with APIs for staking, restaking, and liquidation services, alongside real-time performance monitoring and reward optimization tools. Figment processes billions in staked assets, maintains 99.99% uptime, and provides on-chain data analytics for asset managers. Founded in 2018, it expanded through acquisitions like CrediScan for MEV protection.


Founded

2018

HQ

CanadaToronto

Website

figment.io

Status

Privately held

Customer focus

B2B

Revenue model

Services

Valuation

$1.4B (Dec 2021)

Figment Valuation

Figment is currently valued at $1.4B, based on its Series C in December 2021.

The $110M round was led by Thoma Bravo.

Figment's valuation has grown 264x from $5M at its seed round in February 2019 to $1.4B in December 2021, across 2 priced rounds.

Figment valuation by funding round

Figment valuation by funding round
DateStageValuation
Dec 2021Series C$1.4B
Feb 2019Seed$5M

Figment Funding History

Figment has raised a total of $164M across 4 funding rounds.

Figment's first fundraising round was a $2M seed round in February 2019. The most recent completed round was a $110M Series C in December 2021.

Figment funding rounds

Figment funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2021Series CThoma Bravo (lead)$110M$1.4BFigment is a leading blockchain infrastructure and services provider, offering staking solutions, validator operations, and APIs across over 50 proof-of-stake networks, serving more than 130 institutional clients with over $7.5 billion in digital assets staked as of December 2021. The company announced a $110 million Series C funding round on December 20, 2021, led by Thoma Bravo, reaching unicorn status with a $1.4 billion post-money valuation. Other participants included Counterpoint Global (Morgan Stanley), Binance Labs, Mirae Asset, ParaFi Capital, Avon Ventures, Bitstamp, Franklin Templeton, CMS Holdings, Two Sigma, B Capital Group, DTCP, and StarkWare. The funding aims to accelerate Figment's Web 3 growth, expand staking support across additional proof-of-stake blockchains, increase headcount, and enhance its leadership in blockchain infrastructure. Thoma Bravo, managing over $91 billion in assets, highlighted Figment's role in simplifying blockchain development and its entrepreneurial culture. This round follows a $50 million Series B in August 2021 led by Senator Investment Group and Liberty City Ventures, bringing total funding to $165 million by late 2021. Figment launched Figment Capital, an investment arm focused on the crypto industry, amid rapid 2021 growth. Headquartered in Toronto, Canada, the company targets institutional clients globally and positions itself for expanding proof-of-stake adoption in Web3 finance.
Aug 2021Series BLiberty City Ventures (lead); Senator Investment Group (lead)$50M-Figment is a blockchain infrastructure provider specializing in Proof-of-Stake (PoS) validator networks, enabling token holders to secure networks and institutional clients to stake digital assets. The company raised $50 million in its Series B round on August 16, 2021, led by Liberty City Ventures and Senator Investment Group, to scale institutional staking offerings and expand global operations. This followed earlier rounds including a $1M pre-seed in 2018, $1.5M seed in 2019, and $2M (or $2.5M per some sources) Series A in 2020. Four months later, in December 2021, Figment closed a $110 million Series C round led by Thoma Bravo, achieving a post-money valuation of $1.4 billion, up 180% from a previous $500 million valuation. Participants included Counterpoint Global (Morgan Stanley), Binance Labs, ParaFi Capital, Mirae Asset, Avon Ventures (Fidelity), and others. Total funding to date from these rounds reached $165 million. The capital supported Web3 growth, additional PoS blockchain integrations, headcount expansion, and launch of Figment Capital investment arm. At the Series C announcement, Figment managed $7.5 billion in staked digital assets across 50 networks, serving 130 institutional clients, up from $7 billion staked and 31 clients reported in August 2021.
Oct 2020Series AXDL Capital Group; BKCM; FJ Labs; Bonfire Ventures; Lemniscap$3M--
Feb 2019SeedBonfire Ventures (lead); XDL Capital Group; FJ Labs; Lemniscap$2M$5M-

Who has invested in Figment?

8 investors have backed Figment across its funding rounds, including FJ Labs, Bonfire Ventures, Lemniscap, XDL Capital Group, Thoma Bravo and Liberty City Ventures.

Lead investors include Thoma Bravo, Liberty City Ventures, Senator Investment Group and Bonfire Ventures.


Figment Investors

Investors in Figment by funding rounds participated
InvestorHQRoundsRoleFirst check
XDL Capital GroupCanadaToronto2ParticipantFeb 2019
FJ LabsUnited StatesNew York City, NY2ParticipantFeb 2019
Bonfire VenturesUnited StatesLos Angeles, CA2LeadFeb 2019
LemniscapCayman IslandsGeorge Town2ParticipantFeb 2019
BKCMUnited StatesNew York City, NY1ParticipantOct 2020
Liberty City VenturesUnited StatesNew York City, NY1LeadAug 2021

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Acquisitions by Figment

Figment has acquired 1 company to date.

Last acquisition by Figment was on October 16th 2025. Figment acquired Rated for undisclosed valuation.


Latest Acquisitions by Figment

Rated
Description
Rated is a Web3 infrastructure provider offering real-time data on validators and node operators across Cosmos SDK chains and Ethereum. Zug-based, it indexes slashing events, uptime metrics, commission rates, and delegation volumes for over 10,000 validators on networks like Osmosis, Juno, and Evmos. The platform enables stakers to compare performance through dashboards and APIs, with integrations for wallets like Keplr and Ledger to facilitate informed delegation decisions.
HQ CountryUnited Kingdom
HQ City
London
Deal Date16 Oct 2025
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Investments by Figment

Figment has invested in 19 companies to date.

Latest investment by Figment was on July 28th 2026. Figment invested in Ethereum Institutional in their Seed round.


Latest Investments by Figment

Ethereum Institutional
Gateway
t3rn
Pine Street Labs
Description
Ethereum Institutional is a nonprofit that advances institutional adoption of the Ethereum network through education, research on its scaling layers, and coordination of stakeholder discussions around tokenization and custody.
Gateway is a blockchain protocol for verifiable credentials on Ethereum and Polygon networks. Launched in 2022, it enables issuers to create decentralized IDs for KYC, education, and employment verification, with over 50,000 credentials issued in its beta phase. The platform integrates with wallets like MetaMask and supports zero-knowledge proofs for privacy-preserving disclosures. Headquartered in Zug, Switzerland, Gateway partners with enterprises in DeFi and Web3 identity sectors for scalable credential ecosystems.
t3rn is a multichain bridging protocol that executes cross-chain transactions across parachains and standalone blockchains like Polkadot, Ethereum, and Moonbeam. It employs a four-layer stack for storage, validation, settlement, and consensus to ensure sub-second execution times under $0.01 fees. British Virgin Islands-based t3rn launched in 2020 and powers omnichain applications for DeFi protocols seeking liquidity across ecosystems.
-
HQ Country-United StatesPortugalUnited States
HQ City
-
New York City, NY
Lisbon
-
Deal Date28 Jul 202619 Jan 202325 Nov 202214 Oct 2022
RoundSeedSeedSeries ASeed
Raisedundisclosed$4M$7M$6M
InvestorsPuffer; LambdaClass; LeadBlock Partners; WalletConnect Network; RWA.xyz; RedStone; EthSystems; Taurus; Circle; LF Decentralized Trust; BitMine; EtherealizeSandeep Nailwal; 6th Man Ventures; Hannah Grey; Ryan Selkis; The Spartan Group; Reciprocal VenturesOpen Ventures; MEXC Global; Bware Labs; Huobi Ventures; Lemniscap; Polychain; D1 Ventures; Blockchange Ventures; NetZero CapitalBECO Capital; Coinbase Ventures; Triblock; Blockchain Capital; Polychain; Genesis; CoinList
Valuationundisclosedundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Figment Competitors

Figment competitors include listed companies like Securitize and OSL Group, and private ones like Félix, Hike, Aleo and 5ire.

Public and private companies comparable to Figment
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
FélixUnited StatesSan Francisco, CAPrivate--$1.4B-
HikeIndiaNew DelhiPrivate--$1.4B-
AleoUnited StatesSan Francisco, CAPrivate--$1.4B-
SecuritizeUnited StatesUnited StatesPublicly listed$62M($34M)$1.5B22.2x
5ireIndiaIndiaPrivate--$1.5B-
OSL GroupHong KongHong KongPublicly listed$62M($48M)$1.2B11.3x

Figment Public Comps

Figment is still privately-owned, but its public comps include Securitize, OSL Group, Sharplink, HashKey Holdings, BitGo Holdings, Indokripto Koin Semesta, Rhino Bitcoin, Stewards, Coincheck Group and Bakkt.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Securitize$62M($34M)25.5x22.2x(46.0x)(37910.8x)
OSL Group$62M($48M)16.6x11.3x(21.7x)(23.2x)
Sharplink$28M($734M)61.9x39.9x(2.4x)141.1x
HashKey Holdings$92M($109M)6.4x-(5.4x)-
BitGo Holdings$16B($9M)0.1x5.5x(125.1x)125.4x
Indokripto Koin Semesta$16M$7M36.9x-81.1x-
Rhino Bitcoin$478K($417K)1242.8x-(1423.4x)-
Stewards------

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Common questions about Figment

When was Figment founded?Figment was founded in 2018.
Where is Figment headquartered?Figment is headquartered in Toronto, Canada.
Is Figment publicly listed?No, Figment is a private, VC-backed company.
What is Figment's valuation?Figment was last valued at $1.4B in its Series C in December 2021.
How much funding has Figment raised?Figment has raised $164M across 4 funding rounds.
What was Figment's last funding round?Figment's last funding round was a $110M Series C in December 2021, led by Thoma Bravo.
Who are Figment's investors?Figment's investors include XDL Capital Group, FJ Labs, Bonfire Ventures, Lemniscap, BKCM, Liberty City Ventures, Thoma Bravo and Senator Investment Group.
Which companies are comparable to Figment?Companies comparable to Figment include Félix, Hike, Aleo, Securitize, 5ire and OSL Group.
How many companies has Figment acquired?Figment has acquired 1 company, including Rated.
How many companies has Figment invested in?Figment has invested in 19 companies, including Ethereum Institutional, Gateway, t3rn, Pine Street Labs, Hyperlane, Omni, Tenderize and Gasp.
What was Figment's last investment?In July 2026, Figment invested in Ethereum Institutional's seed round alongside Puffer, LambdaClass, LeadBlock Partners and 9 other investors.

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