- Companies
- Figment
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
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
Website
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
| Date | Stage | Valuation |
|---|---|---|
| Dec 2021 | Series C | $1.4B |
| Feb 2019 | Seed | $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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2021 | Series C | Thoma Bravo (lead) | $110M | $1.4B | Figment 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 2021 | Series B | Liberty 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 2020 | Series A | XDL Capital Group; BKCM; FJ Labs; Bonfire Ventures; Lemniscap | $3M | - | - |
| Feb 2019 | Seed | Bonfire 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Feb 2019 | ||
| 2 | Participant | Feb 2019 | ||
| 2 | Lead | Feb 2019 | ||
| 2 | Participant | Feb 2019 | ||
| 1 | Participant | Oct 2020 | ||
| 1 | Lead | Aug 2021 | ||
This data is available for Pro users. Sign up to see all 8 Figment investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions 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
| 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 Country | |
| HQ City | London |
| Deal Date | 16 Oct 2025 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Figment acquisitions and their M&A valuation multiples. Start Free Trial | |
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
| 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 | - | ||||
| HQ City | - | New York City, NY | Lisbon | - | |
| Deal Date | 28 Jul 2026 | 19 Jan 2023 | 25 Nov 2022 | 14 Oct 2022 | |
| Round | Seed | Seed | Series A | Seed | |
| Raised | undisclosed | $4M | $7M | $6M | |
| Investors | Puffer; LambdaClass; LeadBlock Partners; WalletConnect Network; RWA.xyz; RedStone; EthSystems; Taurus; Circle; LF Decentralized Trust; BitMine; Etherealize | Sandeep Nailwal; 6th Man Ventures; Hannah Grey; Ryan Selkis; The Spartan Group; Reciprocal Ventures | Open Ventures; MEXC Global; Bware Labs; Huobi Ventures; Lemniscap; Polychain; D1 Ventures; Blockchange Ventures; NetZero Capital | BECO Capital; Coinbase Ventures; Triblock; Blockchain Capital; Polychain; Genesis; CoinList | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Figment investments and their VC round multiples. Start Free Trial | |||||
Figment Competitors
Figment competitors include listed companies like Securitize and OSL Group, and private ones like Félix, Hike, Aleo and 5ire.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.4B | - | ||
| Private | - | - | $1.4B | - | ||
| Private | - | - | $1.4B | - | ||
| Publicly listed | $62M | ($34M) | $1.5B | 22.2x | ||
| Private | - | - | $1.5B | - | ||
| Publicly listed | $62M | ($48M) | $1.2B | 11.3x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $62M | ($34M) | 25.5x | 22.2x | (46.0x) | (37910.8x) | |||
| $62M | ($48M) | 16.6x | 11.3x | (21.7x) | (23.2x) | |||
| $28M | ($734M) | 61.9x | 39.9x | (2.4x) | 141.1x | |||
| $92M | ($109M) | 6.4x | - | (5.4x) | - | |||
| $16B | ($9M) | 0.1x | 5.5x | (125.1x) | 125.4x | |||
| $16M | $7M | 36.9x | - | 81.1x | - | |||
| $478K | ($417K) | 1242.8x | - | (1423.4x) | - | |||
| - | - | - | - | - | - | |||
This data is available for Pro users. Sign up to see all Figment competitors and their valuation data. Start Free Trial | ||||||||
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. |
See companies similar to Figment
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




