Filecoin Funding, Investors & Competitors

Filecoin has raised $258M across 4 funding rounds, most recently a $206M ico round in September 2017.

Last Filecoin funding round

$206M

ICO · Sep 2017

Cumulative funding Filecoin raised

$258M

across 4 funding rounds

Key investors in Filecoin

  • Y Combinator
  • Andreessen Horowitz
  • RRE Ventures
  • Digital Currency Group
  • Haystack
  • CSC Upshot
  • Naval Ravikant
  • Hard Yaka

Filecoin Overview

About Filecoin

Filecoin is a decentralized storage network and cryptocurrency protocol built on IPFS technology. It incentivizes providers to offer disk space through proof-of-replication and proof-of-spacetime mechanisms. Protocol Labs-launched in 2017, Filecoin enables users to store and retrieve data globally via smart contracts. The network powers applications in archiving, NFTs, and AI data lakes with over 18 exbibytes of capacity.


Founded

2014

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B & B2C

Revenue model

Usage-based

Filecoin Funding History

Filecoin has raised a total of $258M across 4 funding rounds.

Filecoin's first fundraising round was a $100K seed round in July 2014. The most recent completed round was a $206M ico round in September 2017.

Filecoin funding rounds

Filecoin funding rounds
DateStageInvestorsRaised
Sep 2017ICOLombardstreet Ventures; Simulation Ventures; Genblock Capital; Craig Bloem$206M
Aug 2017ICOAndreessen Horowitz (lead)$52M
Aug 2017SeedRRE Ventures; PALcapital; Agnes Budzyn; TWIN CAPITAL ASSET MANAGEMENT$300K
Jul 2014SeedCSC Upshot; Y Combinator; Digital Currency Group; Naval Ravikant; Haystack; Hard Yaka; Winklevoss Capital; Haitao Capital; Kevin Ding$100K

Who has invested in Filecoin?

18 investors have backed Filecoin across its funding rounds, including Y Combinator, Andreessen Horowitz, RRE Ventures, Digital Currency Group, Haystack and CSC Upshot.

Lead investors include Andreessen Horowitz.


Filecoin Investors

Investors in Filecoin by funding rounds participated
InvestorHQRoundsRoleFirst check
CSC UpshotUnited StatesSan Francisco, CA1ParticipantJul 2014
Y CombinatorUnited StatesSan Francisco, CA1ParticipantJul 2014
RRE VenturesUnited StatesNew York City, NY1ParticipantAug 2017
PALcapitalUnited StatesNew York City, NY1ParticipantAug 2017
Lombardstreet VenturesUnited StatesSan Francisco, CA1ParticipantSep 2017
Simulation VenturesUnited StatesLake Tahoe, NV1ParticipantSep 2017
Digital Currency GroupUnited StatesStamford, CT1ParticipantJul 2014
Naval RavikantUnited StatesSan Francisco, CA1ParticipantJul 2014
HaystackUnited StatesSan Francisco, CA1ParticipantJul 2014
Hard YakaUnited StatesLake Tahoe, NV1ParticipantJul 2014
Andreessen HorowitzUnited StatesSan Francisco, CA1LeadAug 2017
Agnes BudzynUnited StatesNew York City, NY1ParticipantAug 2017
Winklevoss CapitalUnited StatesNew York City, NY1ParticipantJul 2014

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Investments by Filecoin

Filecoin has invested in 1 company to date.

Latest investment by Filecoin was on June 1st 2022. Filecoin invested in STYLE Protocol in their $3M Seed round.


Latest Investments by Filecoin

STYLE Protocol
Description
STYLE Protocol is a blockchain identity layer for gamers operating on Ethereum and Immutable X. It enables cross-game profile portability, allowing players to carry skins, achievements, and stats across metaverses like Decentraland and The Sandbox. The protocol uses soulbound tokens for verifiable on-chain reputations and integrates with wallets for seamless login across 50 partner games.
HQ CountrySwitzerland
HQ City
Zug
Deal Date1 Jun 2022
RoundSeed
Raised$3M
InvestorsMorningstar Ventures; Blockhub DAO; FunFair Ventures; Dutch Crypto Investors; Alpha Ventures; Protocol Labs; GBV Capital; Faber; AlphaGrep
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Filecoin Competitors

Filecoin competitors include listed companies like Block, Coinbase and Circle, and private ones like Ripple, OKX and Kraken.

Public and private companies comparable to Filecoin
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
RippleUnited StatesSan Francisco, CAPrivate$1.2B-$50B-
BlockUnited StatesUnited StatesPublicly listed$24B$2.2B$46B1.6x
CoinbaseUnited StatesUnited StatesPublicly listed$7.2B$1.8B$46B7.6x
OKXSeychellesVictoriaPrivate$1.9B-$25B13.2x
CircleUnited StatesUnited StatesPublicly listed$2.7B($73M)$22B6.8x
KrakenUnited StatesSan Francisco, CAPrivate$2.2B$531M$21B9.5x

Filecoin Public Comps

Filecoin is still privately-owned, but its public comps include Micron, CXMT, Dell, SanDisk, Seagate, KIOXIA, Western Digital, Hewlett Packard Enterprise, Strategy and Block.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Micron$37B$18B29.0x8.0x60.3x9.6x
CXMT$9.2B$5.5B60.3x-101.9x-
Dell$114B$12B3.5x2.4x34.3x20.1x
SanDisk$20B$13B11.4x8.7x17.6x12.5x
Seagate$12B$4.2B15.2x13.6x43.8x30.8x
KIOXIA$15B$7.6B11.7x4.6x23.1x6.0x
Western Digital$13B$10B11.8x10.7x14.7x24.4x
Hewlett Packard Enterprise$34B$2.6B2.8x2.1x36.2x11.0x

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Common questions about Filecoin

When was Filecoin founded?Filecoin was founded in 2014.
Where is Filecoin headquartered?Filecoin is headquartered in San Francisco, CA, United States.
Is Filecoin publicly listed?No, Filecoin is a private, VC-backed company.
How much funding has Filecoin raised?Filecoin has raised $258M across 4 funding rounds.
What was Filecoin's last funding round?Filecoin's last funding round was a $206M ico round in September 2017.
Who are Filecoin's investors?Filecoin's investors include CSC Upshot, Y Combinator, RRE Ventures, PALcapital, Lombardstreet Ventures, Simulation Ventures, Digital Currency Group, Naval Ravikant, Haystack, Hard Yaka and 8 others.
Which companies are comparable to Filecoin?Companies comparable to Filecoin include Ripple, Block, Coinbase, OKX, Circle and Kraken.
How many companies has Filecoin invested in?Filecoin has invested in 1 company, including STYLE Protocol.
What was Filecoin's last investment?In June 2022, Filecoin invested in STYLE Protocol's $3M seed round alongside Morningstar Ventures, Blockhub DAO, FunFair Ventures and 6 other investors.

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